NDA ally Akali Dal supports retail in FDI
New Delhi: Supporting the Centre`s move to
allow foreign direct investment in multi-brand retail,
Shiromani Akali Dal President Sukhbir Singh Badal has said the
initiative will offer tremendous benefits to farmers and the
people of Punjab.
The Shiromani Akali Dal (SAD) is an important ally of the
National Democratic Front (NDA), which has been strongly
opposing foreign investment in the multi-brand retail sector.
In a letter to Commerce and Industry Minister Anand
Sharma yesterday, Badal said: "We strongly believe that
opening FDI in multi-brand retail will bring in the expertise,
experience and resources of foreign retailers."
"A major beneficiary of back-end investments would be
farmers, who will gain substantially through agricultural
best-practices of international retail companies, thus
improving the quality and quantity of their yield, and will
also get better remuneration," the letter said.
Investments in supply chain infrastructure and stores
would also generate hundreds of thousands of employment
opportunities for rural and urban youth, it said, adding that
an efficient supply chain will also help decrease inflation.
"Considering these benefits, I offer my complete support
to you and your government for taking this major step that
will benefit millions of farmers and youth in our state,"
Badal said in his letter.
Yesterday, the Union Cabinet decided to allow 51 per cent
FDI in multi-brand retail sector, as well as remove the 51 per
cent cap on foreign direct investment in single-brand retail.
Recently, senior BJP leader Murli Manohar Joshi had said:
"We are opposed to FDI in retail market as it will... kill all
small traders and farmers in the long run. BJP will oppose it
in Parliament and outside."
More from India
More from World
More from Sports
More from Entertaiment
- Exclusive: Chat with 'Jazbaa' stars Aishwarya Rai and Irrfan Khan!
- Delhi government to add environment tax in electricity bill
- AAP govt suggests four-fold hike in MLAs salaries
- DNA: Indian Army's 'Phantom Guns’ to defend border with Pakistan
- Shaheed Express train's freight coach catches fire on Ludhiana railway station
- India vs South Africa 2015: 3rd T20I - Preview
- Modi govt turns down IAF's request for more foreign fighter planes, pushes for Made-in-India Tejas
- Indrani Mukerjea back in jail; claims did not take pills, was upset because of mother's death
- Unbelievable! Crops destroyed for Congress vice president Rahul Gandhi's rally in Karnataka
- Asaduddin Owaisi's brother Akbaruddin in trouble over poll speech, arrest warrant issued