FICCI president Sidharth Birla Monday expressed disappointment with Delhi Chief Minister Arvind Kejriwal's decision not to allow FDI in retail, saying this would hurt investor sentiment.
"This direct negation without demonstrating a search for a viable alternative or via media would hamper investment sentiment for the state (of Delhi)," Birla said in a statement.
He said multi brand retail would help in reducing wastage of food products, thereby controlling inflation, adding that FDI was "an alternate capital and technology source".
Birla said both large multi brand retail stores and small "kirana stores" can co-exist peacefully.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app