FDI in retail will neither help nor hurt: Shourie
25 Sep 2012
Bharatiya Janata Party leader Arun Shourie on Monday clarified that though he stood by his earlier statements agreeing with the government's decision to increase diesel prices, reports that he praised the decision to allow foreign investment in multi-brand retail were incorrect.
"I praised only the diesel price hike," the former union minister said.
He described as inconsequential the move to open up the country's retail sector to foreign super-chains like Wal-Mart, calling it "a fuss over nothing".
"This will neither help nor hurt," he said. Shourie pointed out that large retail chains already exist in India and have not been able to oust small kirana shops (corner shops grocery and vegetable vendors).
The ruling Congress had pounced on Shourie's apparent endorsement of its reform measures, even as his party, the BJP, distanced itself from his views, saying they were personal and did not reflect the party's stand.
The BJP played a leading role in a nationwide strike called last Thursday in protest against the government's moves to allow 51 per cent foreign direct investment (FDI) in retail, and to increase the price of diesel and put a cap on the supply of subsidised cooking gas to households.
