Press Esc to close
Thursday 28 August 2014
News updated at 2:51 AM IST
Weather
Max: 28°C
Min : 20.2°C
In Bangalore
Generally 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
Abhishek Bachchan posing next to the Pro Kabbadi League trophy in Bengaluru ...

Abhishek Bachchan posing next to the Pro Kabbadi League trophy in Bengaluru ...

Imran Khan  supporter waves national and party flags during what has been dubbed a 'freedom march ..

Imran Khan supporter waves national and party flags during what has been dubbed a 'freedom march ..

England's Ben Stokes fails to get to a catch during the second ODI against India ...

England's Ben Stokes fails to get to a catch during the second ODI against India ...

Narendra Modi in a meeting with President of Asian Development Bank, Takehiko Nakao in New Delhi ...

Narendra Modi in a meeting with President of Asian Development Bank, Takehiko Nakao in New Delhi ...

Family members mourn during cremation procession of Lance Naik Dhananjay Kumar who was killed ...

Family members mourn during cremation procession of Lance Naik Dhananjay Kumar who was killed ...

Crowd during cremation procession of Lance Naik Dhananjay Kumar who was killed in an encounter ...

Crowd during cremation procession of Lance Naik Dhananjay Kumar who was killed in an encounter ...

Britain's Deputy PM Nick Clegg during the inauguration of the United Kingdom India Business ...

Britain's Deputy PM Nick Clegg during the inauguration of the United Kingdom India Business ...

Dhoni is bowled by England's Chris Woakes during their second one-day international cricket match ..

Dhoni is bowled by England's Chris Woakes during their second one-day international cricket match ..

MS Dhoni bails fly as he is clean bowled by England's Chris Jordan ...

MS Dhoni bails fly as he is clean bowled by England's Chris Jordan ...

A Lord Ganesha idol decorated with 'Laddus at famous Moti Doongari temple in Jaipur ...

A Lord Ganesha idol decorated with 'Laddus at famous Moti Doongari temple in Jaipur ...

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