FDI sails through Parliament
The United States has welcomed the decision of the Indian Parliament to allow FDI in multi-brand retail, noting that this is a win-win for everybody — from small businesses to farmers and consumers. Besides, it would improve the economic co-operation between the two countries, it observed.
“We welcome the Indian Parliament's decision to allow FDI in multi-brand retail,” state department spokesman Mark Toner said on Friday.
“As Indian officials have pointed out, FDI can create opportunities for small businesses and farmers, spur investment in infrastructure, and bring benefits to consumers as well as lower food prices,” he said.
“We believe direct foreign investment in retail will grow markets in India, as it has done in China, Brazil and many other developing economies,” Toner said. A number of US firms, he said, are keen to invest in the retail
sector of India. "There was a political process that played itself out. All sides had a chance to express their views, and it was approved," the official said.