USA welcomes India’s decision on FDI
posted on Dec 8, 2012 @ 3:07PM
The USA has welcomed the decision of the Parliament of India to allow foreign direct investment in multi brand retail in India. Spokesperson of the state department, Mark Toner, has said that the decision would benefit the farmers, consumers and small businesses in India. This will also deepen the economic cooperation between India and USA.
He said that the decision would bring the food prices down in the country. Toner said that FDI in retail would help the markets in India grow well just like in China, Brazil and other countries.
He announced that so many firms in USA were eager to invest in the retail sector in India. On the other side, the USA business council too commended the decision of the Parliament of India on allowing the 51 percent FDI in retail sector in India.
As per the council, the decision of India will minimize the losses of farmers due to inadequate storage and transportation facilities. The step will also be helpful for farmers in getting the remunerative prices for their products.