FDI in multi brand retail will affect SME traders: Nirmala Sitharaman
Updated: May 28, 2014 10:40:06am
New Delhi, May 28 (KNN) Multi brand retail is not best opened up now because the small and medium sized traders and farmers have not been adequately empowered to deal with it, the new Minister of State for Commerce and Industry (Independent Charge) Nirmala Sitharaman said adding that if the floodgate of FDI is opened up, it might affect the SMEs.
“At this stage, the party’s position is very clear. It (multi-brand retail) probably is not best opened up now because the medium and small-sized traders and farmers have not been adequately empowered to deal with it. So immediately if you open up the floodgate of FDI, they may get affected,” Sitharaman told media persons after taking charge yesterday.
She also emphasized the need to frame policies that would lead to creation of jobs for both skilled and unskilled people and boost exports.
BJP has said in its election manifesto about not allowing FDI in multi-brand retail.
“Barring the multi-brand retail sector, FDI will be allowed in sectors wherever needed for job and asset creation, infrastructure and acquisition of nice technology and specialised expertise,” it said.
On the issue of allowing FDI in other sectors such as the Railways, e-commerce and construction development, Sitharaman said that the government will look at FDI in various sectors in a calibrated fashion.
After assuming charge yesterday she said, “…there will not be a “blanket approach” for every sector…each and every sector would be looked in a “very, very calibrated fashion,”
She went on to say that there was a lot happening in the Department which should be taken forward with greater enthusiasm.
Significantly, she said that she will work to “improve on Indian exports, and ensure that job opportunities emerge because that’s a very important plank on which they have contested the recent elections.
“The economic situation in this country demands that more jobs be provided for the young, talented, well-educated and even the semi-skilled and unskilled people of India,” Sitharaman said. (KNN/SD/ES)
“At this stage, the party’s position is very clear. It (multi-brand retail) probably is not best opened up now because the medium and small-sized traders and farmers have not been adequately empowered to deal with it. So immediately if you open up the floodgate of FDI, they may get affected,” Sitharaman told media persons after taking charge yesterday.
She also emphasized the need to frame policies that would lead to creation of jobs for both skilled and unskilled people and boost exports.
BJP has said in its election manifesto about not allowing FDI in multi-brand retail.
“Barring the multi-brand retail sector, FDI will be allowed in sectors wherever needed for job and asset creation, infrastructure and acquisition of nice technology and specialised expertise,” it said.
On the issue of allowing FDI in other sectors such as the Railways, e-commerce and construction development, Sitharaman said that the government will look at FDI in various sectors in a calibrated fashion.
After assuming charge yesterday she said, “…there will not be a “blanket approach” for every sector…each and every sector would be looked in a “very, very calibrated fashion,”
She went on to say that there was a lot happening in the Department which should be taken forward with greater enthusiasm.
Significantly, she said that she will work to “improve on Indian exports, and ensure that job opportunities emerge because that’s a very important plank on which they have contested the recent elections.
“The economic situation in this country demands that more jobs be provided for the young, talented, well-educated and even the semi-skilled and unskilled people of India,” Sitharaman said. (KNN/SD/ES)
Loading...
