FE@CAMPUS MASTERMIND: Response by Dhawal Pratap Singh to question for Jan 7-13
Under new rules, firms have to source 30% of the value of goods purchased from small- and midsized domestic suppliers. This ensures that the benefit will also be available to the grassroot level contributors and merely ‘foreign goods’ are not provided to Indian constumers. Most of the foreign forms will have to partner with Indian forms to enter the market to set up retail chains. This also adds to the employment opportunities as the firms will have to educate and train large number of workers.
Hence, allowing FDI in multi brand retail is a welcome move by the Indian government and it will greatly benefit the economy to recover towards a booming GDP as well as provide assistance to small and medium sized suppliers.
Dhawal Pratap Singh
Be the first to comment.