FDI in multibrand to be implemented in Delhi next fiscal

Delhi Chief Minister Sheila Dikshit today said FDI in multibrand will be implemented in the national capital by next financial year and accused BJP of trying to "halt" India's economic growth by opposing the move.

"The people who are opposing the FDI are not keen to take forward the country and its people. We will bring FDI to Delhi by next financial year," Dikshit told a meeting of traders at her residence.

The traders have come to express their gratitude for her decision to implement FDI in multibrand retail in Delhi.

"By opposing FDI, BJP is favouring largescale wastage of agricultural products and other consumer items. In our country, large quantity of vegetables and fruits go waste due to non-availability of cold storage," she said.

"All countries in the world are marching ahead by adopting moderanisation while the major opposition party here is dead against any modernisation," she said.

The Chief Minister said FDI will benefit traders, farmers and consumers. "Farmers will get the right price for their produce while consumers will get quality product at reasonable prices."

She said small traders will not face any adverse impact of FDI in retail as all kinds of business can exist "side-by-side" without effecting each other.

"India has a huge population. There will be no effect on retailers if FDI comes. We need all kind of shops and business in our country," she said adding a lot of things are being said to create a "wrong impression" about the move.

B B Gupta, National Vice President All India Vaish Federation, said "FDI will benefit traders as well as consumers. We are here to show our support to the state government's decision to bring FDI in Delhi."