FDI in retail good for Delhi, says Sheila

Chief Minister Sheila Dikshit on Saturday said welcomed the Union government's decision to introduce 51 per cent foreign direct investment (FDI) in multi-brand retail, saying Delhi as a city required modernisation.

She said the move would not affect the business of kirana shops.

"We welcome the move and feel that it has several advantages. The customers will not only get value for their money but will also help keep prices of products stable. The farmers will also get a good price for their produce,'' Dikshit said.

The chief minister said the decision will also lead to less wastage of food and vegetables and would lead to abundance of jobs.

"As of now about 35 per cent to 40 per cent of the food, particularly vegetables, is wasted. But allowing FDI in multi-brand retail, will improve things," she said.

On questions of FDI impacting the local vendors and the wholesale markets, Dikshit said: "Those who will open these chains will also buy from our wholesale markets. Small businesses such as kirana shops will also not be affected as, all over the world, people go to their neighborhood shops to buy items of daily requirement."

Meanwhile, The Confederation of All India Traders (CAIT) has called for a nation-wide bandh on September 20, to protest against the government's decision to operationalise 51 per cent FDI in multi-brand retail.

While protesting against price hike in LPG and Diesel and decision to introduce FDI in retail, BJP senior leader M Venkaiah Naidu said trade in India will be ruined if FDI in multi-brand retail is allowed.

"Trade in this country will come under the control of multi national companies. Even the farmers of will be affected," he said.

Delhi BJP chief Vijender Gupta said the Congress government was committing many atrocities on the common man.

... contd.

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