The Asian Age

Govt eco adviser wants multi- brand retail FDI to stay ● Subramania­n tells TV channel this will help in infrastruc­ture for agricultur­e sector

- AGE CORRESPOND­ENT

Chief economic adviser Arvind Subramania­n on Tuesday said he favoured retaining FDI in multibrand retail as it would help create infrastruc­ture for agricultur­e. “The finance minister makes a distinctio­n between the party’s position and the government’s position. The government’s position is that whatever we have, we are going to stick to it,” Mr Subramania­n told a TV channel. He said under the policy, if the states want to use FDI in multi- brand retail they will be allowed to do it.

He noted the Economic Survey had talked of the need to create a common agricultur­e market. “To do so you have to create infrastruc­ture so that a private market can flourish in agricultur­e. That requires a couple of things,” said Mr Subramania­n. One, that the government should create infrastruc­ture, like land for all markets. “If we can get the private sector to invest in this infrastruc­ture... we should have the domestic private sector doing it, and may be the foreign private sector ( too),” he added.

A controvers­y had arisen about FDI in multibrand retail as the DIPP’s consolidat­ed FDI press note this month had not made any change in the UPA policy of allowing FDI in multi- brand retail. Finance minister Arun Jaitley had, however, noted the BJP’s “political stand is very clear... we are not in favour ( of FDI in multi- brand retail)”.

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