Support FDI but Maharashtra decision by coordination panel: NCP

Participating in the debate in the Rajya Sabha on the motion disapproving government decision to allow foreign direct investment in multi-brand retail, Nationalist Congress Party (NCP) member Yogendra P. Trivedi said it was a momentous decision and there should be proper consultations and consensus on the issue.

The NCP is part of the ruling coalition in Maharashtra along with the Congress.

"We have a coordination panel. It will come to conclusion (on FDI in multi-brand retail). Thereafter it may fully support," Trivedi said.

He said there was no reason to sound defeatist over the government's decision on FDI as India had faced international competition successfully.

 

"We are the largest hub of outsourcing... we have made our mark. Our people are quite capable. Why have defeatism," he asked.

The NCP member said the country has to think in terms of benefit to consumers.

He contended that fears about international stores coming as a result of the FDI decision and wiping out the unorganized sector were unfounded.