No roll back on FDI, says centre

Unfazed by the strong opposition to allowing foreign direct investment [FDI] in retail even from some allies, the government on Tuesday made it clear that the decision will not be rolled back as it is in the interest of farmers and consumers. Addressing a group of farmers here, commerce and industry minister Anand Sharma said FDI in multi-brand retail trading will help farmers in getting good price for their produce besides creating lakhs of jobs. 'This decision is final. This decision will not be rolled-back. We are not afraid of anything. This decision is taken in the interest of the farmers and consumers,' he told the farmers.

Seeking to allay fears that small shopkeepers would be impacted by big retail chains, Sharma said the decision was taken after comprehensive consultations with all the stakeholders including farmers, consumers and industry leaders. His assertion comes against the strong opposition to FDI in retail with even UPA constituent DMK saying it would back any opposition-sponsored resolution on the issue.