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`FDI in retail welcome with safeguards'

Our Bureau

Visakhapatnam , March 1

Foreign direct investment in Indian retail trade is welcome, but with sufficient safeguards to protect the interests of the smaller retailers, the farmers and the consumers.

This was the opinion of the majority of the speakers at a seminar on the issue organised in the Andhra University on Tuesday on the occasion of the superannuation of Prof. V. Balamohana Das, Vice-chancellor of Nagarjuna University.

Prof. C.S. Venkata Ratnam of Geetam College, said the entry of the big retail chains would revolutionise the sector, and "it will give a great boost to the economy, if they source their requirements and inputs from within the country."

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