Chawla bats for govt on FDI regime
8 Oct 2012 11:53 PM GMT
Coming to the defence of the government facing stiff opposition over opening multi-brand retail to foreign investment, the Competition Commission of India on Sunday said that entry of big players in the retail market would encourage competition.
'This [FDI in multi-brand retail] will promote competition, as we see it prima facie. At least by the stated objective. Let's see how it works. Once they come, their func tioning will be clear and then we can see if at all there i s a need to step in,' CCI chairman Ashok Chawla said.
Despite political presure, Chawla said that there would be no over-vigilance of multi-brand retail. The sector, he said, would be regulated ‘like any other sector with no special dynamics.’
'This [FDI in multi-brand retail] will promote competition, as we see it prima facie. At least by the stated objective. Let's see how it works. Once they come, their func tioning will be clear and then we can see if at all there i s a need to step in,' CCI chairman Ashok Chawla said.
Despite political presure, Chawla said that there would be no over-vigilance of multi-brand retail. The sector, he said, would be regulated ‘like any other sector with no special dynamics.’
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