‘Multi-product retail FDI over-hyped’
- 2007 Ajmer dargah blast case: Two sentenced to life imprisonment by Special NIA court
- Maharashtra Assembly ruckus: Speaker suspends 19 MLAs till December 31
- Supreme Court adjourns hearing in Babri Masjid demolition case
- Uttar Pradesh: Three mutton shops allegedly set on fire in Hathras
- RK Nagar bypoll: Election Commission to decide which AIADMK faction gets poll symbol
The Congress MLA from Ludhiana West, Bharat Bhusan Ashu, has stated that FDI in multi-brand retail may not be the game changer as it is being projected to be nor will it adversely impact existing retail infrastructure as per the political propaganda.
He stated that in Punjab only four towns meet the criteria of 10 lakh population, viz Ludhiana, Patiala, Jalandhar and Amritsar, where foreign companies can put their shops as per the policy paper on FDI.
Whatever limited experience Punjab has had through Pepsi on farming, there has been better than conventional returns. Similar is the story of people engaged in dairy farming with the presence of Nestle. There is no denying the fact that Punjab farmers are in desperate need to diversify into cash crops and allied farming occupations of dairy, poultry, apiculture etc. Just as MSMEs involved in garments, hosiery, hand tools, handicrafts etc will have a channel to market their products globally, FDI in retail will give much needed respite to farmers.
As per studies by agro-economists, the return per acre almost doubles in the initial five-seven years of FDI as huge amounts of produce get preserved and converted into products with longer shelf lives and with introduction of agronomical practices. With a greater number of MSMEs in organised retail, it brings manpower reforms with skill and technology upgradation. Ashu said, McDonalds interestingly paid more VAT in Ludhiana than the entire hotel industry in town. Deputy CM Sukhbir Badal had already winked against the NDA hullabaloo.
- The duty to practise tolerance
- New National Health Policy checks some boxes but sidesteps basic concerns
- TV went delirious chasing Uttar Pradesh’s new chief minister
- For India to strengthen itself, cobwebs of the Left’s borrowed ideas must be cleared
- Turn searchlight inward
- PM Modi will need to change how different parts of government relate to each other