Press Esc to close
Monday 22 December 2014
News updated at 11:59 PM IST
Weather
Max: 28°C
Min : 17.6°C
In Bengaluru
Partially cloudy

Rangarajan allays fears over FDI in retail

Kolkata, Nov 24, 2012, DHNS:

Stressing the need for food subsidy in the country, Chairman of PM’s Economic Advisory Council C Rangarajan said FDI in retail would have limited impact on small retailers.

Speaking at an interactive session organised by MCC Chamber of Commerce, Rangarajan said on Saturday: “FDI in retail would have limited impact on small retailers because the presence of large retailers would be restricted to the metros. Small retailers have a locational advantage and would act more business-like under the shadow of the bigger players.

“In the US small retailers have not disappeared. Even the domestic large corporate houses are not prohibited from entering the retail sector. The only difference was in case of FDI, the ownership would become different.”

Speaking on the necessity of food subsidy, the former governor of RBI said: “The target of the government as a part of fiscal consolidation exercise is to bring down subsidies as a percentage of GDP. But providing complete food subsidy is of paramount importance for countries like India.”

When asked about Chinese goods flooding Indian market through foreign retailers, Rangarajan said “Chinese goods are coming to India through trade even now.”


Go to Top

Photo Gallery
Christmas celebrations

Christmas celebrations

Migratory birds

Migratory birds

Prayers in Allahabad

Prayers in Allahabad

Hand In Hand

Hand In Hand

Bengaluru Midnight Marathon

Bengaluru Midnight Marathon

The Final Battle: ISL

The Final Battle: ISL

Captain's Spirit

Captain's Spirit

Fan's Rejoice

Fan's Rejoice

Atletico de Kolkata players celebrate with Trophy

Atletico de Kolkata players celebrate with Trophy

Atletico De Kolkata wins ISL

Atletico De Kolkata wins ISL

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