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LATEST NEWS UPDATES | Centre slams disgruntled states on FDI retail issue

Centre slams disgruntled states on FDI retail issue

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published Published on Dec 1, 2011   modified Modified on Dec 1, 2011
-The Economic Times
 
The Centre came down heavily on states that are opposing foreign investment in multibrand retail for not making their point when the policy was being formulated and said those opposed had the powers to stop companies from opening stores in their boundaries. 

Some state governments, including Tamil Nadu and Uttar Pradesh, have opposed the government's proposal to allow 51% foreign direct investment in multi-brand retail and blasted the Centre for not consulting them on this crucial issue. 

The Department of Industrial Policy and Promotion (DIPP) has countered the charge saying states had ample opportunity to express their views when parliament's standing committee had sent the proposal to states for consultations. 

The states could have also expressed their dissent when the department had put out a consultation paper for feedback from all stakeholders. DIPP is country's nodal body for foreign direct investment policy. 

"We had put it (discussion paper) on the website. It is a FDI policy. It is not changing law where there has to be a formal consultation," PK Chaudhery, Secretary, DIPP told reporters on Thursday. 

"There is no question on a rollback. Based on decisions taken in the Cabinet, the guidelines on FDI in multi brand will be issued soon," he said without giving a time frame. Chaudhery said the policy was uploaded on the website giving ample time to all stakeholders to comment. 

"The states were free to respond at any point. One must understand that consultations with states are not mandatory as this policy is not prescriptive to the states," he said but admitted that department had not formally sought states' views. The government again reiterated the point that the states still had the power to stop retail chains from opening stores in their jurisdiction, but clarified that states could not modify the FDI policy as it was the Centre's prerogative. 

"It is not impinging upon the states' rights," he said but admitted that the department had from its side formally not sought states' views. Chaudhery also ruled out a roll back of the policy by the government. 

The secretary also said that the competition and labour laws were adequate to take care of the rights of workers and consumers, and dismissed fears of imports surge. "We have strong competition as well as anti dumping laws to tackle these situations," he said. The proposal has run into stiff opposition from opposition and many of the allies of the UPA government who have raised fears of largescale hardship on small retailers.


The Economic Times, 2 December, 2011, http://economictimes.indiatimes.com/news/politics/nation/centre-slams-disgruntled-states-on-fdi-retail-issue/articleshow/10952323.cms


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