FICCI disappointed over bar on FDI in retail

Sambad English Bureau Published On : Jan 13, 2014 at 10:38 PM Updated On : Jan 13, 2014 at 10:44 PM

New Delhi, Jan 13 :

FICCI president Sidharth Birla Monday expressed disappointment with Delhi Chief Minister Arvind Kejriwal’s decision not to allow FDI in retail, saying this would hurt investor sentiment.

BMW’s another all-electric car launched in India

Indian IT services sector to see 2nd-consecutive year of muted revenue growth: Report

“This direct negation without demonstrating a search for a viable alternative or via media would hamper investment sentiment for the state (of Delhi),” Birla said in a statement.

He said multi brand retail would help in reducing wastage of food products, thereby controlling inflation, adding that FDI was “an alternate capital and technology source”.

Birla said both large multi brand retail stores and small “kirana stores” can co-exist peacefully.

(IANS)