Montekspeak : FDI In Retail Will Help Farmers, Consumers

New Delhi, Dec 2: Defending the government’s decision to open up the multi-brand retail sector to foreign investment, Plan panel deputy chief Montek Singh Ahluwalia today said it would help farmers as well as consumers.

“In my view, it is absolutely the right thing to do if you care about farmers and consumers. The view that farmers will be cheated (by foreign players) has no basis,” the Planning Commission Deputy Chairman told reporters on the sidelines of the Hindustan Times Leadership Summit here.

He discounted apprehensions regarding the possibility of predatory pricing by foreign retail players and a loss of jobs.

“In 20 years in China, have there been predatory prices? This is uninformed rubbish. You can quote me. This is complete uninformed rubbish,” Ahluwalia said.

From: http://ping.fm/LyMnD