Breaking silence over the rapidly declining value of rupee, Prime Minister Manmohan Singh Thursday said the development was "certainly a shock" and it will be addressed without reversal of reforms or resorting to capital controls.
There has been a heated debate within Parliament and outside in the recent past on lobbying after it came to light that various global companies, including retail giant Wal-Mart, lobbied with the US lawmakers to push for their entry and other business interests in the Indian markets.
Visiting London Mayor Boris Johnson Wednesday backed the Indian government's decision to open up the insurance and mutil-brand retail sectors to FDI, saying it might augur well for the poor even as he suggested that India can experiment with more "openness".
Indian-origin Labour MP Keith Vaz has advised Indian legislators to be careful while handling the issue of FDI in retail, cautioning that a major dominance by super markets may not be in the interest of common man.
The minister gave an example of how in Kochi, the commercial capital of Kerala, there are shopping complexes and retail stores, but the blooming of such stores had no negative impact on the farmers and traders.
The influential Confederation of British Industry today said announcements on FDI in India were "good news" and would ultimately benefit Indian citizens even though the decisions were politically sensitive.