Sam Pitroda on FDI decision-India News and Travel Times Provides India-centric and other News and Features

The decision to introduce Foreign Direct Investment (FDI) in retail got another shot in the arm on Sunday, as the advisor to Prime Minister on Public Information Infrastructure & Innovations, Sam Pitroda, extended his support to the move. Addressing a news conference here, Pitroda said India needed to increase it's pace in the race of globalisation, and such steps would take the country forward. “Personally I believe, if we are going to be part of globalisation, a country of 1.3 billion, we have to drive it. We can't be in the backseat. Time has come for India to rise and not worry about what will happen because young generation will figure it out. It is also like planting seeds. These kind of things will have to be done more and more,” Pitroda said. Speaking on the issue of delay in the Unique Identification Card (UID) project, he said the issues have been addressed and project head Nandan Nilekani is working closely with the Home Ministry. “It (UID) is going well. It got delayed little bit because of difference of opinion in the operating part. Who should do what? Whether the people who do census should also do part of it? The Home Ministry felt that census people could do it. Now both are doing, Nandan Nilekani is doing a piece; census people are doing a piece. Both pieces will come together and it will get done,” he added. The government endorsed FDI in retail sector on Friday, which it said, is a part of major economic reforms that has been stalled for months by political gridlock, and came as part of a package of measures aimed at reviving growth. The move allows global firms such as Wal-Mart Stores to set up shop with a local partner and sell directly to consumers for the first time, which supporters say could transform India 's $450 billion retail market and tame inflation.

Sam Pitroda says FDI is needed to keep pace with globalisation