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Opposition to FDI guided by political whims: NAC member by Ravish Tiwari


In the backdrop of political uproar over government’s decision to allow FDI in retail, N C Saxena, member of National Advisory Council (NAC), on Wednesday said there was no economic rationale against the decision and the opposition to it is guided by political whims.
“Opposition to FDI in retail is based on political whims which has no economic rationale,” he said.

Saxena reasoned that FDI in retail would only incentivise efficiency and claimed that it will have little adverse impact on the trade of small retailers in large cities where consumer demand is robust. “FDI in retail trade can work only when the FDI-backed retailers offer good price to the farmers/producers while ensuring best price for consumers. This means that only the efficient can survive,” Saxena reasoned.