Home / Knowledge / News / Apparel/Garments / Parliamentary committee tables report on FDI and MSMEs
Parliamentary committee tables report on FDI and MSMEs
09
Aug '13
A report regarding the FDI policy for retail and it’s effects on the Micro, Small and Medium Enterprises (MSMEs) in the country, titled ‘FDI in multi-brand retail on MSMEs’, has been tabled in the Indian Parliament, reports the Economic Times quoting PTI.
 
The Parliamentary Committee on Industry is of the opinion that the FDI for retail may not have beneficial impact on the MSME sector. It is of the view that not enough safeguards have been provided to insulate the MSME sector from sudden changes in trade policy.
 
The entry of global retail chains would lead to elimination of farmers and small markets (called mandis in India), which would enable foreign retail giants to manipulate prices, forcing farmers to sell their produce at lower prices or prices dictated by multi-brand retailers, according to the report of the standing committee.
 
The committee, headed by Tiruchi Siva, said the MSME Ministry should commission a survey to assess the benefits and losses of previous FDI policies on the sector. 
 
The committee feels that FDI in retail may not benefit the retail sector unless designing, packaging, bar coding, skill development are improved upon and integrated into supply chain, the report states.
 
The implementation of policy provision should be closely monitored through an institutional mechanism in the initial years, and not left to self-certification.
 
In September 2012, Government of India approved up to 51 percent FDI in multi-brand retailing.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 9th Dec 2016

ACIMIT signs MoU with Pakistan textile bodies

In a bid to strengthen the trading in garments and textiles between...

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search