FDI in retail: Farmers will benefit: Shiromani Akali Dal

NEW DELHI: BJP ally, Shiromani Akali Dal (SAD), has backed FDI in multibrand retail saying it will benefit farmers and people of Punjab, which is an agrarian economy. “We are delighted to hear that your government is taking this major initiative that will offer tremendous benefits to the farmers and people of my state,” SAD president Sukhbir Singh Badal said in a letter to commerce minister Anand Sharma.

Badal said his party believed that opening up FDI in multibrand retail will bring in expertise, experience and resources of foreign retailers. “A major beneficiary of back-end investments would be farmers, who will gain substantially through agricultural best-practices of international retail companies, thus improving the quality and quantity of their yield, and will also get better remuneration,” he said.

BJP has opposed the move saying it will hit small traders and was against the interests of the people. However, the SAD leader said investments in supply chain infrastructure and stores would also generate hundreds of thousands of employment opportunities for rural and urban youth an efficient supply chain will help decrease inflation.

“Considering these benefits, I offer my complete support to you and your government for taking this major step that will benefit millions of farmers and youth in our state,” Badal said in his letter on Thursday, the day the Union Cabinet cleared 51% FDI in multi-brand retail sector. The entire opposition, including all other NDA constituents — BJP, JD(U) and Shiv Sena — protested against the move in Parliament and outside.