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FDI in retail: FICCI hopes to soften Left's stand

General Secretary Mitra claims that Union Agriculture minister Sharad Pawar would also support the proposal.

india Updated: Feb 02, 2006 20:31 IST

FICCI Secretary General Amit Mitra has said that the trade body would try and convince the ruling Left Front in West Bengal to soften its stand on allowing FDI in farm products retailing.

Claiming that CPI(M) Politburo member Sitaram Yechury hadbeen convinced, Mitra said that he in turn would try to explain and convince his party.

He also said that Union Agriculture minister Sharad Pawar would support the proposal.

"We had a close-door meeting with Yechury and he is convinced after we explained the benefits and the present structure. He has assured that he would take up the matter in the politburo meeting of the party," Mitra added.

The Left parties have opposed to FDI in retail. They have been against the opening up FDI even in single brand retailing.

On January 30, the Union Minister of State for Food Processing Subodh Kant Sahai had said that the Group of Ministers (GoM) had cleared the recommendation of 51 per cent FDI in retail specific to 'agri-business,' along with the new Food Processing Policy.

First Published: Feb 02, 2006 20:31 IST