Labour Min supports FDI in retail

Dec 21 2011, 16:32 IST
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FDI in multi-brand retail. (Reuters) FDI in multi-brand retail. (Reuters)
SummaryWhen opinion was sought by the Govt, the ministry had "supported" the proposal.

The Labour and Employment Ministry today said its opinion was sought by the Government for allowing FDI in multi-brand retail and it had "supported" the proposal.

The Ministry at the same time suggested creation of a suitable mechanism to check "predatory pricing by multi-brand retailers" and "conducting periodic evaluation of impact of allowing FDI on employment", Labour and Employment Minister Mallikarjun Kharge said in the Rajya Sabha today.

In a written reply, he said comments of his Ministry "were obtained on a note for the CCEA for allowing FDI in multi-brand trading and enhancing limit in single brand retail trading by the Department of Industrial Policy and Promotion".

He added the department had in 2008 conducted a study on 'impact of organised retailing on the unorganised sector' through Indian Council for Research on International Economic Relations and the report was submitted to the government in the same year.

The report had highlighted the impact on organised retailing on unorganised sector, impact on consumers, manufacturers, farmer and intermediaries.

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