Press Esc to close
Thursday 23 October 2014
News updated at 7:50 PM IST
Weather
Max: 0°C
Min : 0°C
In Bangalore
Sunny day

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
Hindu priest performs evening prayers called 'Aarti' on the banks of the river Yamuna...

Hindu priest performs evening prayers called 'Aarti' on the banks of the river Yamuna...

Dakshineswar Temple decorated with lights for the Kali Puja and Diwali at North 24 Pargana...

Dakshineswar Temple decorated with lights for the Kali Puja and Diwali at North 24 Pargana...

Firecrackers light up the sky as people celebrate Diwali festival in Mumbai...

Firecrackers light up the sky as people celebrate Diwali festival in Mumbai...

School students lighting earhen lamps at Tulsi Ghat in Varanasi...

School students lighting earhen lamps at Tulsi Ghat in Varanasi...

A view of decorated Madan Mohan Malviya Stadium with oil lamps during Deepwali festival...

A view of decorated Madan Mohan Malviya Stadium with oil lamps during Deepwali festival...

Illuminated Golden Temple on the eve of Diwali in Amritsar...

Illuminated Golden Temple on the eve of Diwali in Amritsar...

Children with special needs light firecrackers as they celebrate Diwali...

Children with special needs light firecrackers as they celebrate Diwali...

Border Security Force (BSF) soldiers enjoy Diwali celebrations on the eve of Diwali...

Border Security Force (BSF) soldiers enjoy Diwali celebrations on the eve of Diwali...

Hindu priests light oil lamps in a formation of the 'Swastika', a Hindu symbol of peace...

Hindu priests light oil lamps in a formation of the 'Swastika', a Hindu symbol of peace...

A Border Security Force (BSF) soldier lights sparklers on the eve of Diwali...

A Border Security Force (BSF) soldier lights sparklers on the eve of Diwali...

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