The Associated chamber of Commerce and Industry of Industry (Assocham) has expressed serious concern over the withdrawal of FDI in multi-brand retail retail by the Rajasthan government which would dent and shake the confidence of the global investors.
“It is not a question of allowing or not allowing foreign investment in retail… If one party reverses the decision of its rival dispensation upon change of guards, the policy and political risks for global investors would definitely increase in India, scaring them away,” said D S Rawat, Secretary General Assocham.
It was time, a national consensus was built on politically sensitive issues and once a stand is taken, there should be no room for reversal. If we have different FDI policies in even contiguous states, it would make no business sense for those intending to come to India, added Mr. Rawat.
Reversal of decisions of the previous governments by any dispensation is not advisable. Businesses all over the world do not like it. Such a thing is anti-investment, said Assocham's Secretary General.
He further said, “all the political parties must debate on the issue of FDI in retail will be hugely benefited to the farmers, consumers and rural infrastructure”.