US foreign direct investment-in-retail vote sees as incentive for investment in India

The US Government has in Parliament that of FDI in thevote retail will facilitate praised. Reuters

"There was a political process that is unfolding. All sides had the chance to express their views, whether for or against it, and it was approved, "said the American official.

Also welcomed the U.S.-India Business Council (USIBC), the leading business advocacy group, on Friday, the Indian Parliament vote, that the entry of FDI in multi-brand retail will facilitate.

"This will usher in the much-needed investment and expertise in the supply chain development that can link directly to farmers markets more efficiently, so as little as possible loss due to insufficient storage and transport facilities," said USIBC President Ron Somers in a statement (here).

' FDI in multi-brand retail will support the Government objective of achieving remunerative prices for farmers, and also quality and choice for India's increasingly sophisticated consumer base will increase, "said Somers.

Recognize that it is up to the individual States, this proposal would be the USIBC is keen to work with progressive Governments, including Uttar Pradesh, Gujarat, Maharashtra, Karnataka, Tamil Nadu, Andhra Pradesh, Punjab and Bihar, and in 2013 will lead many of its 350 member companies for a visit to these countries, it said.

PTI

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