Micro and Small Industries and Overseas Indian Affairs Minister Vayalar Ravi today said that allowing FDI in retail sector would benefit farmers in the long run, eventually boosting the country's economy. He asserted that the claim that FDI will harm farmers and small traders is not correct. He said,the advent of malls, retail stores and shopping complexes have boosted the economy and their quality of services.

He was speaking to reporters in New Delhi after inaugurating the 7th Heads of Missions conference of Gulf Cooperation Council , Asian and African countries.

On Kerala's opposition to FDI despite the state being governed by the Congress-led UDF, Ravi said, it's the state government's prerogative whether to allow FDI in retail or not but pointed out that booming shopping complexes and multi-brand stores in the state have not affected traders.