Page 30

CoverStory sense of relief. Many quickly went into ‘twitter’ mode to hail the government. The domestic industry hopes that the spate of economic reforms announced by the Government will be a “mood lifter”, improving the global perceptions on India and having a positive effect on its sovereign rating. Adi Godrej, President, CII, said that the announcements have “restarted the reform process”. He said that easing FDI

Mallika Srinivasan, Chairman of TAFE, a leading tractor maker, felt, these were bold and visionary moves, and a welcome one at that. “We must thank the commerce minister and the government for this,” she said. According to her, the opening up of multi-brand retail for FDI would help farmers get a better return. “I guess it is a well debated and discussed move, and will be implemented,” she said. This,

How They See it ”The move signals to the investor community that India is committed to furthering reforms. The States have been allowed to take a final decision on this subject and we are hopeful that they will respond positively to this policy initiative”

R.V. Kanoria, President, FICCI “These were bold and visionary moves, and a welcome one at that. We must thank the commerce minister and the government for this. The opening up of multi-brand retail for FDI would help farmers get a better return. I guess it is a welldebated and discussed move, and will be implemented. This, in effect, would improve productivity and processes in the farm sector. The FDI in multi-brand would also result in greater investment into areas such as cold storage and transportation”

Mallika Srinivasan,

norms would help mobilise capital into these sectors and improve India’s current account deficit situation. On opening of FDI in multi-brand retail, FICCI President, R.V. Kanoria, said that the move signals to the investor community that India is committed to furthering reforms. “The States have been allowed to take a final decision on this subject and we are hopeful that they will respond positively to this policy initiative,” he said. Assocham commended Prime Minister Manmohan Singh for his “exceptional courage amidst stiff opposition”. Meanwhile, Sunil Bharti Mittal, Chairman and Group CEO of Bharti Enterprises, congratulated the Government on its “bold decisions”. He added, “This sends out a clear message to the global investor community that the Government is committed to taking forward next generation economic reforms.”

in effect, would improve productivity and processes in the farm sector, she added. The FDI in multi-brand, she felt, would also result in greater investment into areas such as cold storage and transportation. Paresh Parekh, Tax Partner - Retail Practice, Ernst & Young India, said the reforms, one of boldest steps, deserve a big welcome. “I hope this will be reflective of new era of reforms and reinstil investor confidence in India. Global retailers will now definitely get back to their drawing boards to explore India plans.” PwC India’s Executive Director (Retail), Akash Gupt, said that FDI in retail will help the farmers maximise their earnings and value. “Indian retail players are today bleeding and they will have access to overseas funds which will allow the Indian players to harvest their value and be a partner in the retail growth story,” he said.

TAFE

Chairman of

” I congratulate the Government on its ‘bold decisions’. This sends out a clear message to the global investor community that the Government is committed to taking forward next generation economic reforms.”

Sunil Bharti Mittal,

Chairman and Group CEO of Bharti Enterprises “For farmers, FDI is not a blessing in its present form; it is neither good enough a deal to fight for, nor bad enough to pull the country to a halt.”

Ajay Vir Jakhar, Krishak Samaj

Chairman, Bharat

AgriBusiness & Food Industry w October 2012

29

AGRI BUSINESS & FOOD INDUSTRY  

India's only monthly magazine having maximum presence in National & International Exhibitions. Regular topics cover the food processing sect...

AGRI BUSINESS & FOOD INDUSTRY  

India's only monthly magazine having maximum presence in National & International Exhibitions. Regular topics cover the food processing sect...

Advertisement