FDI in retail not a reason to worry: Shourie

September 23, 2012 12:31 am | Updated November 17, 2021 04:07 am IST - Bhopal:

Under attack from rivals as well as allies for its recent spate of reforms, the UPA government received surprise support from the BJP leader and the former Union Minister, Arun Shourie.

Mr. Shourie, who is here to participate in a global inter-faith conference, said the FDI in retail and aviation sectors would neither help companies nor hurt consumers much.There would be “neither more profit nor much loss with FDI in retail and aviation.”

Five or six years back, Indian companies such as Reliance, Airtel and Big Bazaar came into the retail market, he recalled. “But right now, it is these big companies and not the small retailers that are in trouble financially,” he said. Mr. Shourie also supported the Centre’s decision to increase diesel prices by five rupees.

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