Punjab Mandi Board welcomes FDI in retail | chandigarh | Hindustan Times
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Punjab Mandi Board welcomes FDI in retail

chandigarh Updated: Sep 25, 2012 16:16 IST

Punjab Mandi Board president Ajmer Singh Lakhowal on Tuesday said Foreign Direct Investment(FDI) in multi-brand retail will benefit farmers and welcomed the Centre's decision to allow FDI in the sector.

"It will be good for the state, particularly the farmers," said Lakhowal, whose board manages all grain and vegetable markets in the state besides funding the laying and maintenance of roads in the rural areas of Punjab.

Notwithstanding opposition to it from the ruling SAD-BJP combine, Lakhowal said the Centre's step in allowing the FDI will help eliminating the middlemen and the farmers as well as end consumers will be benefitted.

"Big firms will purchase directly from farmers and this will also help to diversify the farm sector," added Lakhowal.

Lakhowal, who is also president of a farmers' union, said the peasants had supported allowing FDI in the retail.

He said the union leaders had also held a meeting in Delhi on Tuesday where it was "unanimously" resolved to back FDI in multi-brand retail in Punjab.

On opposition to the FDI from SAD-BJP alliance, Lakhowal said that ruling Shiromani Akali Dal is an ally of the NDA and will go with them over the issue.