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Corporate Nov 16, 2012

Voting on FDI in retail will set wrong precedent: Sharma

Union Commerce Minister Anand Sharma today said that the FDI in retail is an execution decision and there should not be voting in Parliament as it would set a bad precedent.

"We can't create bad precedents. Everything should not be tramped in partisan politics. It will harm farmers, consumers and faith of investors," Sharma told CNBC-TV18's Aakansha Sethi.

Union Commerce Minister Anand Sharma. Image courtesy PIB

"FDI in retail is a decision by an elected government and it is in the country's best interest," he said.

The minister said that government will have a strategy in Parliament and will firmly defend the decision.

"I have discussed slowdown in growth, contraction of exports, trade account deficit with Finance Minister P Chidambaram," Sharma said.

The two ministers also discussed the need to implement the government strategy on FDI quickly.


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