‘No FDI in multi-brand retail sector in state’ - The New Indian Express

‘No FDI in multi-brand retail sector in state’

Published: 23rd September 2012 08:45 AM

Last Updated: 23rd September 2012 08:46 AM

Opposing the Union government’s decision to allow Foreign Direct Investment (FDI) in the multi-brand retail sector, the state  government has decided not to allow foreign retail giants to open their stores in the state, said Agriculture Produce and Marketing Committee (APMC) Minister S K Bellubbi.

He told reporters here on Saturday that to protect the interests of domestic retail store operators  in the state, it was decided not to allow foreign giants, including Wallmart, to open stores. According to him, the Centre’s decision to allow 51 per cent FDI in the multi-brand retail sector would result in large scale loss of job opportunities.

“To bring in more efficiency in the functioning of  APMCs in the state, the system of e-tender is being introduced in over 45 committees.Since four years, Rs 23.80 crore have been spent for this purpose,” said Bellubbi adding that computerisation of all APMCs is in progress.

He said through Centre’s Assistance for States for Infrastructure Development for Exports scheme,  the marketing committees of Byadagi and Koppal are being developed by spending over Rs 27.47 crore. He also informed about the state government’s decision to connect 50 APMCs with National Commodity Exchange through e-trading facility.

He added that the state government had released Rs 51.25 crore  for market intervention to protect the interests of farmers when prices of tur, dry coconut and ginger fell sharply.

The state government plans to construct an onion and potato wholesale market at Dasanapura located on the outskirts of the Bangalore and a flower market at Mysore.

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