Retail players disappointed over holding back of FDI in retail

Dec 03 2011, 20:59 IST
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Summary"There is no reason why consensus cannot be built on this issue," Future Group CEO Kishore said.

Expressing disappointment at the government's decision to put on hold the FDI in retail decision, players in the sector today said a political consensus must be arrived soon in the interest of consumers and farmers.

"There is no reason why consensus cannot be built on this issue. FDI in retail will benefit farmers and consumers, who will have to now strongly come in the support of the Cabinet's decision," Future Group CEO Kishore Biyani said.

He said a lot of farmers and consumers are coming out in support of this.

Disappointed at the development, Retailers Association of India CEO Kumar Rajagopalan said: "There is a total confusion at the moment on the FDI in retail issue. On one hand we have been given an impression that a notification will be out soon on the cabinet's decision, but on the other hand there are so many political differences".

It is a sad situation wherein the picture is still not clear, he said.

In a sudden turn of events, West Bengal Chief Minister Mamata Banerjee today said the Centre has decided to put on hold the controversial decision on FDI in retail sector, in an apparent bid to break the Parliament logjam.

Banerjee-led Trinamool Congress is strongly opposed to the decision of allowing 51 per cent FDI in multi brand retail and 100 per cent in single brand.

When contacted, most of the sector players, including Reliance Retail President (Lifestyle) Bijou Kurien refrained from commenting on the development.

Bharti Retail India Chief Operating Officer Andrew Levermore also declined to react merely saying it was a 'tough time to comment'.

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