FDI decision taken after lot of consideration: PM

FDI decision taken after lot of consideration: PM

He said there was no compulsion on states to implement the decision of the Union Cabinet with regard to allowing 51 per cent FDI in retail and there were options available to them for not implementing.

Singh insisted that the decision to allow FDI in retail was aimed at creating jobs, improving rumeneration of farmers and enabling import of technology besides benefitting consumers.

"I would .. like to a mention today of the decision of the government permitting Foreign Direct Investment in Retail. We have not taken this decision in any haste but after a lot of consideration. It is our firm convinction that the decision will benefit our country," the Prime Minister said while addressing Youth Congress convention here.

He defended the decision taken last week even as Parliament was paralysed for the third day on the issue with Opposition, joined by UPA constituents Trinamool Congress and DMK, being unrelenting on the demand for its reversal. Voices of opposition have emerged from within Congress also.

"We believe that it will bring modern technology to the country, improve rural infrastructure, reduce wastage of agricultural produce and enable our farmers to get better prices for their crops," Singh said, virtually ruling out any reversal of the decision.

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