Vayalar Ravi defends FDI in retail-India News and Travel Times Provides India-centric and other News and Features

Micro and Small Industries and Overseas Indian Affairs Minister Vayalar Ravi has said that Foreign Direct Investment (FDI) in retail sector would benefit farmers. Defending the government's move, Ravi stressed that small scale businesses would not get affected by the move. "The retailers even today- there are big malls by the big Indian monopolies, I don't want to name them, you know them- it doesn't affect the small entrepreneurs, no it they do not get affected," he said. Opposition parties ranging from the Left to the right will hold a nation-wide strike on Thursday to protest against the reforms in retail on the grounds that super-chains like Wal-Mart and Tesco will obliterate thousands of corner stores and the livelihood of many small farmers. The government has, however, been stressing that states have the right to decide whether to allow FDI in retail.

Vayalar Ravi defends move to allow FDI in retail