Rajasthan govt decision on retail FDI to dent investor confidence, says Assocham

Feb 01 2014, 18:52 IST
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After Delhi, Rajasthan govt has scrapped the approval  for FDI in multi-brand retail sector. PTI After Delhi, Rajasthan govt has scrapped the approval for FDI in multi-brand retail sector. PTI
SummaryAfter Delhi, Rajasthan govt has scrapped the approval for FDI in multi-brand retail sector.

Industry body Assocham today expressed serious concern over the withdrawal of FDI policy in multi-brand retail by the Rajasthan government and said the decision would dent the confidence of global investors.

"If one party reverses the decision of its rival dispensation upon change of guards, the policy and political risks for global investors would definitely increase in India, scaring them away," the chamber said in a statement.

After Delhi, Rajasthan has scrapped the approval given by the previous government for foreign direct investment (FDI) in multi-brand retail sector.

Rajasthan government's decision would "dent and shake the confidence" of the global investors, Assocham said, adding that a national consensus should be built on politically-sensitive issues.

"Once a stand is taken, there should be no room for reversal. Businesses all over the world do not like it. Such a thing is anti-investment," it added.

All the political parties must debate on the issue of FDI in retail as it would benefit farmers and consumers both, Assocham said.

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