Press Esc to close
Friday 29 July 2016
News updated at 2:25 AM IST
Weather
Max: 29.4°C
Min : 20.7°C
In Bengaluru
Sunny day

FDI in retail will benefit consumers in India: Powell

New Delhi, Nov 19, 2012 (IANS)

Allowing FDI in India's retail market will benefit the Indian consumers and farmers, American Ambassador to India Nancy Powell said here Monday.

"We see benefits for consumers in India, a much bigger impact will come to the producers, the farmers in particular, to those who handle produce as they come out of the farms," Powell told journalists during an interaction at the Indian Women's Press Corps.

Explaining the benefits of multi-brand retail, Powell said: "An incredibly high percentage, 40 percent of food, is lost in India due to the lack of cold storage, the lack of quick transportation. This is one of the very important benefits of multi-brand retail that they have brought across the world in improving the supply chain."

"It has meant better prices for many of the producers, higher return as they do not lose as much between the farm and the store," said Powell, who is the first woman US ambassador to India.

On the controversy over foreign direct investment (FDI) in retail in India, Powell said: "Obviously it is a political issue here... how you work with the kiranas, the smaller traders but, it is also a recognition that not everybody is going to a big store, you will continue to have variety of retail outlets partially due to transportation.

This will continue to be part of your political debate but we are very very pleased to see it coming to India."

"I think multi-brand retail is something which has been very controversial in my part of the US. When Wal-Mart came, we saw some very familiar debates which I now read in the Indian newspapers," she said.

"As we worked at the impact of multi-brand retail on consumers, we found it provides consumers more selections of goods and services to choose from and at lower prices and fresher products," she added.

The Left parties want a debate and vote on FDI in the winter session of parliament starting Nov 22.

The Bharatiya Janata Party (BJP) has also said that the party will oppose FDI and coordinate with the National Democratic Alliance (NDA) constituents and other opposition parties on the issue.


Go to Top

Photo Gallery
Renowned sand artist Sudarsan Pattnaik creates a sand sculpture of tiger with message...

Renowned sand artist Sudarsan Pattnaik creates a sand sculpture of tiger with message...

Amitabh Bachchan at the World Hepatitis Day 2016 event...

Amitabh Bachchan at the World Hepatitis Day 2016 event...

Jayalalithaa presents a primary membership card to a newly joined party worker...

Jayalalithaa presents a primary membership card to a newly joined party worker...

Locals try to douse a car godown that caught fire at Panagarh in Burdwan district of West Bengal...

Locals try to douse a car godown that caught fire at Panagarh in Burdwan district of West Bengal...

A policeman fires teargas shell to disperse protesters during a clash in Srinagar...

A policeman fires teargas shell to disperse protesters during a clash in Srinagar...

School students take part in an awareness event on the eve of International Tiger Day...

School students take part in an awareness event on the eve of International Tiger Day...

A demonstrator holds a placard during a protest organised by a Muslim minority forum...

A demonstrator holds a placard during a protest organised by a Muslim minority forum...

Cattle move through flood water at Dhekiabari Village in Kamrup district of Assam...

Cattle move through flood water at Dhekiabari Village in Kamrup district of Assam...

RJD Chief Lalu Prasad looking at his waterlogged residence after a press conference in Patna...

RJD Chief Lalu Prasad looking at his waterlogged residence after a press conference in Patna...

Villagers move to safe place in a boat from the flooded Panikhiti area in Kamrup district of Assam..

Villagers move to safe place in a boat from the flooded Panikhiti area in Kamrup district of Assam..

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523