Mr. M. Rafeeque Ahmed, President, Federation of Indian Export Organisations (FIEO), complimented UPA for winning vote on multi-brand retail in Parliament which will be harbinger of new economic reforms in the country. He said economic reform should be pursued with full vigour to attempt inclusive growth.Mr. Ahmed said the multi-brand retail will indirectly help the export sector as exporting units will get exposed to new trends emerging on the globe and shall be accessing large departmental stores for exports of quality products from the country. Textile, leather, gems and jewellery, handicraft, carpets and other life-style products will be immensely benefitted from the FDI.
Investment in supply chain will address problem of storage, refrigeration and transportation giving boost to floriculture, horticulture and viticulture exports. India may emerge as one of the leading agro exporters, once the supply side constraints, as detailed, are taken care of, added the FIEO Chief. The investment through FDI route will provide stability to Indian rupee as well, which is witnessing high volatility in the current year. This will also help in managing the current account deficit which is becoming unmanageable, said Mr. Ahmed.
He complimented the Commerce, Industry and Textiles Minister for his Herculean efforts in garnering the requisite support through his well researched and articulate speeches on multi-brand retail.
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