Most of the retailers do not want Foreign Direct Investment (FDI) in the Indian retail sector emerged from the 'Retail 2005' seminar organised by CII in Kolkata last week.
Except for real estate segment, which is eyeing huge foreign (particularly NRI) funds want FDI to boost the industry future.
Clearly speaking out against FDI were Pantaloons Retail Limited managing director, Kishore Biyani and Vice-Chairman of RPG Enterprises Sanjiv Goenka who clearly outlined that there was no need for allowing FDI in the retail sector.
A three year time frame to study the situation and then take necessary step in the the direction were sought by the opponents of FDI in the sector.
Some organised retailers are mulling to appeal to the Government on this issue.
Meanwhile, Indian Council of Research on International Economic Relations (ICRIER) in a study wants Government to grant industry status to the sector and recommended creation of a nodal ministry for distribution services.
Streamlining of license clearances, quality standards for local production and imports besides a list of excluded products like weapons, were also suggested as immediate improvements.
A study by ICRIER suggested that unilateral liberalisation should precede multilateral commitments in retail as India has received requests from major trading partners in the WTO to allow FDI and this would increase India's bargaining power in the WTO.
"FDI inretail can be used to gain more access for Business Process Outsourcing and software sectors in developed markets at the WTO," said co-authors of the study, Mukherjee and Nitisha Patel.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
