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Liberalization of FDI norms in single brand retail to create employment opportunities

ANI  |  New Delhi [India] 

While appreciating the Government's move to liberalize the norms for Single brand and Construction development, Anil Khaitan, President, of Commerce and Industry said, "That the decision will open up the endless opportunities for global investors in the industry in "

"Allowing 100 percent under automatic route for the Single Brand will provide impetus to the development of infrastructural capabilities like warehousing and assist in creation of a well-organized and agile retail supply chains," said

"This breakthrough will open up millions of new employment opportunities, a push to investment activity in the economy and expansion in economic growth trajectory in the coming times," added Anil.

However, the opined that, in the long run, overall environment would benefit from the reform in the country and should not have any negative spillovers on local domestic stores such as mom and pop stores.

"Innovation and expertise in association with FDI will help in reducing the costs that will increase the welfare of both consumer as well as the seller, going ahead," he added.

"The move is expected to pour-in funds from all over the globe, fuelling the rapid development of the sector in India's is rapidly changing, is highly customer driven and provides success through local networks, said Mr.

"FDI holds the potential to facilitate the local Indian businesses' ability to improve their efficiency and gain competitiveness due to positive spillover effects across sectors, he added.

He added that although India's is in a nascent stage, it has today become a potential target for FDI from across the world.

"Today, offers one of the most conducive investment opportunities for mass investors and retailers looking to expand overseas as is growing at a strengthened pace coupled with high purchasing power and eased norms," said

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 10 2018. 20:05 IST