Retail FDI to Rule PM, Industry Meet.

NEW DELHI: Amid the political heat over Lokpal, foreign direct investment in retail and the industrial slowdown are going to dominate the agenda of the Prime Minister's Council on Trade & Industry that is slated to meet on Thursday.

Just two days ago, the industry cried hoarse over policy inaction during a meeting of a government task force headed by commerce & industry minister Anand Sharma. Sharma is expected to present industry's inputs - which range from fast-tracking projects to pushing ahead with FDI in retail to boost sentiments - at Thursday's meetings.

While Prime Minister Manmohan Singh has already stated the government's intent, the position has been bolstered by Congress general secretary Rahul Gandhi's assertion that the move would have helped potato farmers get a better price for their produce, which is at present going waste due to lack of storage facilities.

Although the commerce & industry ministry had started the process of stakeholder consultations - having already met representatives from the food processing industry and micro and small enterprises - the recent statements from Congress party and government leaders have boosted confidence levels, which had hit a low after the government was forced to put the decision on hold.

Sources said that Sharma has now decided to convene a meeting of state industry ministers over the next few weeks where FDI in retail will be a key agenda item although the new manufacturing policy and the industrial slowdown are the two other stated reasons.

Source : timesofindia.indiatimes.com