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Reform debate shifts to FICCI

The political fireworks on foreign direct investment (FDI) in multi-brand retail may well move from Parliament to corporate boardrooms. HT reports. A long wait and then a big leap

business Updated: Dec 10, 2012 01:57 IST
HT Correspondent

The political fireworks on foreign direct investment (FDI) in multi-brand retail may well move from Parliament to corporate boardrooms.

After a nearly four-year hiatus, Prime Minister Manmohan Singh will be seen addressing business leaders in an annual meeting of an industry body, triggering speculation that he might use the opportunity to articulate the government's economic agenda and the need for critical second generation reforms.

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'Manmohan Singh, Prime Minister of India, will inaugurate and address the AGM on December 15," FICCI said.

"We expect the PM to use the opportunity to speak on the government's economic road map," said a senior Delhi-based industry leader.

The PM's address will be followed by a special address by Trinamool Congress (TC) chief and West Bengal chief minister Mamata Banerjee. TC, an erstwhile ally of the UPA government, pulled out of the ruling coalition protesting against the government's move to allow FDI in retail and up diesel prices.

Sushma Swaraj, BJP leader and leader of opposition in the Lok Sabha who initiated the debate on the motion against FDI in retail in Parliament's Lower House; Kamal Nath, parliamentary affairs minister; Ajit Singh, civil aviation minister; Jyotiraditya Madhavrao Scindia, minister of state for power (independent charge); Anand Sharma, commerce and industry minister who has piloted the FDI policy and Raghuram Rajan, chief economic adviser; are the other speakers.