Patna/Attari, Dec 2 (ANI): Farmers across India including Punjab and Bihar are in favour of foreign direct investment (FDI) in retail, despite various political parties and traders vehemently protesting the decision announced by the central government.
The furore over inviting global supermarket chains such as Wal-Mart and Tesco to invest in India's 450 billion dollar market saw traders across the country pull down the shutters of their shops on Thursday.
Farmers in Patna expressed a different view on the subject and said they are convinced the move would prove beneficial for them.
"FDI in retail sector will be very beneficial for the farmers. The farmers will earn the profits directly and will get rid of the middlemen. And when the farmers will benefit, then they will sell the product at lower prices in the market. Bringing FDI in retail sector is a good step and the farmers will receive good response in the market and we would get rid of the middlemen," said Vinay Kumar, a farmer.
Though the Bharatiya Janata Party and Left Front parties contend that FDI in retail will result in widespread job losses among millions of small traders, farmers in Punjab's Attari village supported the government's decision saying the move would help them to get rid of middlemen who merely add to their woes.
"FDI will be beneficial for us as we will directly deal with the government. The traders and middlemen are looting us. The farmers will be able to determine the rate on their own and it will prove beneficial for them," said Amrinder Singh, a farmer.
Last week, Prime Minister Manmohan Singh's cabinet had approved 51 percent foreign ownership in multi-brand retail with conditions, and full ownership in single-brand retail.
Global supermarket groups see a huge opportunity in India, Asia's third-largest economy with a fast growing consumer class. (ANI)
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