NRI body backs FDI in retail sector, urges Badal not to oppose it
Wednesday, 26/09/2012
http://epaper.dailypostindia.com/Details.aspx?id=50177&boxid=57356&uid=&dat=2012-09-26
Jalandhar : North American Punjabi Association (NAPA), a California (USA)-based body of Non-Resident Indians (NRI) has supported the Foreign Direct Investment (FDI) in multi-brand retail sector in Punjab and appealed to the state Chief Minister Parkash Singh Badal not to oppose the same.
Talking to Daily Post over phone, association president Satnam Singh Chahal and Chairman Dalwinder Singh Dhoot said that FDI in retail would be good for Punjab, especially for the farmers. “If it is implemented by framing proper rules and regulations with the objective of safeguarding the interest of farmers, it can work wonders,” they said.
Describing the FDI in retail beneficiary for the people of Punjab, the NAPA leaders said that after the implementation of the same, middlemen would be eliminated from the marketing cycle. “Firms will purchase products directly from farmers and will boost efforts to diversify farm sector. Retail chains can source items from Punjab to other parts of the world also,” said Chahal.
“We urge the CM to review his stand on the issue because the FDI in retail will ultimately benefit the people. The middlemen making lot of money and causing losses to both producers and consumers, will be by and large eliminated from the marketing process”, added the NAPA leaders.
