Reacting to the opening of multi brand retail sector for 51% FDI, renowned agriculture and food policy analyst Devinder Sharma said that whatever claims government is making regarding the profits from this move are just a myth and nothing else.

"It's all myth. Somewhere I also said that it's all lie, lie and damn lies. Somebody on one of the TV shows today was saying that politically it was a wrong step to take as nobody was in support of it. But they said there is nothing wrong in it economically. I said that's something you must become clear about that economically also it does not make any sense,” Sharma told this citizen journalist .

On the issue of agriculture, on the issue of employment; these are the two main things, and also on the issue of consumers prices, there is no evidence, which says that there is benefit to the community or the people,” said Sharma.

Sharma also said that the government has opened up multi-brand retail sector for 51% FDI all of a sudden in the pressure of the US.

“Obama has his elections on 6th November. Now, (after this step by India) he can go all around in the town saying that he is going to create so much of employment with Wal-Mart, etc., that the American economy will improve. That is what the PM is doing,” added Sharma.

Industry bodies have welcomed the government's move. One of the apex industry bodies FICCI said that the policy decision reflects the resolve of the government to usher in a retail revolution in the country and also signal to the investor community that India is committed to furthering reforms.

We will see infusion of new technology across the agriculture value chain as well improvement in the back end infrastructure. There will be a multiplier effect in terms of employment generation and domestic manufacturers will benefit as they integrate with the supply chains of global retail majors. Consumers will have a wider choice and get better deals," said RV Kanoria, President, FICCI in a statement.