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PC takes a dig at BJP on FDI, says why be sorry

Last Updated: Tuesday, November 29, 2011 - 22:00

New Delhi: In a veiled attack on BJP`s
opposition to FDI in retail, Home Minister P Chidambaram on Tuesday
said political parties which believe that the country should
go ahead with economic reforms should neither change their
stand nor be apologetic about it.

"Economic reforms will go forward. There will be
obstacles. But I think economic reforms will go forward.... We
should not be apologetic about reforms. ...regrettable it is
political parties which change (their) stand. Political
parties must have conviction and this should be maintained,"
he said at a public event.

Chidambaram, a former Finance Minister, said FDI in
retail was not a new policy and it has been around for many
years now.

"It is not a new policy. FDI in single brand retail has
been around for many years. Nobody has closed down (their
shops) because of this. We have simply carried the process
forward. We already have 51 per cent and now it will be 100
per cent. Whether 51 per cent or 100 per cent, it is not going
to change the economic landscape of the country," he said.

Chidambaram wondered how many of foreign companies will
enter the retail business in the country and in how many
cities they would set up their shops.

"Even if they go, they will go 20 kms away from the city
provided there is land and all. Going by the experience, three
or four will come to India. They will bring technology and
experience. This will definitely improve distribution chain,"


First Published: Tuesday, November 29, 2011 - 22:00

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