Foreign direct investment in organized retail can boost business and bring in a outbreak of economic activity to India by global players, an expert with a US-based think-tank said on 2nd May. "FDI (in organised retail) is allowed in most of the countries in the world ... why not here.
If the government opens it to FDI, there will be a flurry of (activity) by foreign players who will not only bring in investible funds but also global expertise and knowledge, much needed to develop this growing sector," the International Food Policy Research Institute Director (Asia) Ashok Gulati said.
FDI in multi-brand retail is not allowed in India and it is permissible only for the wholesale cash and carry firms and in the single brand retail.
The organized retail is growing annually by more than 70 per cent since 2002. However, since the multi-brand domestic retail sector is in the immaturity stage, it has shown significant expansion on a low base, Gulati said on the sidelines of a function.
If the government opens it to FDI, there will be a flurry of (activity) by foreign players who will not only bring in investible funds but also global expertise and knowledge, much needed to develop this growing sector," the International Food Policy Research Institute Director (Asia) Ashok Gulati said.
FDI in multi-brand retail is not allowed in India and it is permissible only for the wholesale cash and carry firms and in the single brand retail.
The organized retail is growing annually by more than 70 per cent since 2002. However, since the multi-brand domestic retail sector is in the immaturity stage, it has shown significant expansion on a low base, Gulati said on the sidelines of a function.
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