Planning Commission Deputy Chairman Montek Singh Ahluwalia today said modern retail is an expanding segment and it would more than double in a very short time. Speaking at a TV programme, he allyed fears that opening up of the retail sector for FDI will hurt small kirana shops. Lauding the government's decision to notify FDI in retail, Ahluwalia said, this is a structural change and he does not believe that modern retail can expand fast enough to raise real wages. He said, central point that we should make is, in a growing economy, if we have to achieve our objective of 8 per cent economic growth, in that kind of growth scenario total size of retail market is going to be more than double in a very short time.
News On AIR | September 23, 2012 4:56 PM
FDI in retail not a threat to kirana shops: Montek