Ficci secretary-general Rajiv Kumar explains to CNBC-TV18 that the decision to allow FDI into multi-brand retail will confuse the Opposition and boost the domestic and overseas investment sentiment.
Below is an edited transcript of the reaction on CNBC-TV18. Q: Today is red-letter day for you because you were in a way, the author of the reforms in retail...A: I have been waiting for this day for almost three years and it is better late than never. I hope this time there will be no rollback. Allowing FDI in multi-brand retail will modernise the retail sector and transform it into an engine of growth. I want to congratulate the government and I hope that the states which have the onus to carry the initiative forward and join the bandwagon. Q: The government has been decisive and is sensible political strategy to confuse the Opposition which was planning to go and hammer-and-tongs on the hike in diesel prices...
A: That is absolutely right. And a whole bouquet of reforms has many advantages. One, it leaves the Opposition confused and two, the cumulative impact of such a bouquet of proposals will be very good for investment sentiments. Q: What would you have to say about decisions like power exchanges?
A: I think it is a wonderful decision. Power exchanges will aid the growth of the infrastructure and power sectors. RELATED LINKS:
- FDI in multi-brand retail, aviation, 4 PSU sell-offs okayed
- Why govt eased 30% outsourcing rule in single brand retail?
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