Former President Abdul Kalam supports FDI in retail

Former President Abdul Kalam supports FDI in retailWhile the Opposition led by BJP and many allies of the UPA are aggressively opposing the government’s proposal to open the retail market of India to foreign investment, former president A P J Abdul Kalam has openly support the proposal.

Mr. Kalam support foreign direct investment (FDI) in retail, saying developing countries need an atmosphere of competitiveness and aggressiveness to become developed.

At a Bharat Chamber of Commerce event on Sunday, Mr. Kalam said that he believed that FDI is not dangerous as long as we can build the capacity of competitiveness and aggressiveness in marketing.

Speaking about the proposal, "FDI (retail) is not dangerous. In a global world, we have to remain competitive. There is a need to increase food grain production from 250 million tones."

He said India is now producing 250 million tonnes of food grains, which makes the country self-sufficient, but if the country produces 400 million tonnes of food grains, then it would have sell it outside and thus would require cooperation and collaboration.

The former president also spoke in favour of the Tamil Nadu-based Kudankulam nuclear power project, which is being delayed because of anti-nuclear power protests. He added that he was in support of nuclear power, solar power and hydro power, and was against fossil fuels because they pollute the environment.




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