Rs 40,000 cr from retail FDI: Assocham
According to a joint report by industry chamber Assocham and private sector lender Yes Bank, major foreign players are now expected to create positive atmosphere for farmers, suppliers, consumers, economy and the enterprise itself.
"The opening up of FDI (up to 51 per cent) in multi-brand retail segment is expected to bring in an investment of over Rs 400 billion and open up huge opportunities for farmers, in industry and consumers," the report 'FDI in Retail – Advantage Farmers' said.
FDI in retail is expected to bring in adequate infrastructure creation, efficient management of supply chain, controlled food inflation, better product offerings and new job creation, it added.
"Like any other sector, organised retailing has been facing major challenges on account of getting the requisite talent and skills, multi licence regime, an inefficient supply chain with numerous intermediaries and lack of basic infrastructure," the study said.
Bringing in more FDI, increasing affluence among urban consumers, growing preference for branded products and higher aspirations among youth will drive huge growth in organised retail segment of the country, the study said.
"Organised retail is expected to grow faster than total retail at 24 per cent by 2016-17 as compared to 15 per cent growth of total retail during the same period," it added.
As per estimates, overall retail
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