Amidst criticism over allowing 51% FDI in multi-brand retail, commerce and industry minister Anand Sharma on Saturday said the new policy is ?distinct and different? and keeps the interest of small retailers into consideration.
?The FDI policy is distinct and different and has the Indian signature,? Sharma added.
On being asked whether the government would take steps to allay fears over the measure, which has drawn sharp reactions from political parties and retailers, Sharma said the interest and sensitivities of small retailers have been taken into consideration and ?they are part of the policy embrace.?
Sharma further added, ?Political parties would certainly realise the benefits of the government?s bold move and added that such opposition was common.?
He recalled that previous Congress governments in the ?80s and ?90s, led by the late Rajiv Gandhi and late PV Narasimha Rao, had gone ahead with reforms in IT and communication and economy, only to reap benefits now.
The minister said the government has not rushed the FDI policy and it took one year and 10 days before it reached a committee of secretaries, after intense consultations with states, retailers, industries and farm associations and other stake-holders.
Sharma insisted that the decision on FDI was not taken overnight and said no policy rollout would be without opposition and criticism. ?A sincere effort had been put in to take on board concerns of all stakeholders,? he added.
Claiming that the decision would help farmers and consumers alike, he said peasants were not getting remunerative price for their produce. The policy envisages to bring down post-harvest losses and aims to create better rural infrastructure like cold storages, Sharma said.
?This was an ?enabling policy?, wherein the state government can take a call on its implementation,? Sharma added.