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 Supporting
West Bengal Chief Minister, Buddhadeb Bhattacharjee's
stand, Mittal said, "Let us see for the next 7-10
years what Indian companies deliver and then we can
take a call."
Responding to queries on West Bengal government's stand
on retail, Bhattacharjee said, "So far as retail
is concerned, Reliance to Spencer, everyone is welcome,
subject to some conditions." He said he requested
Reliance not to sell foodgrain and set up shop in core
city areas.
Out of 11.6 million tonnes vegetables produced in the
state, 10-30 per cent perish due to a shortage of cold
storage chains.
Bhattacharjee opposed FDI in front-end retail. Mittal
said it was a positive development that the chief minister
recognised the importance of organised retail.
He, however, said only hypermarkets should be set up
in the periphery of cities and not medium and smaller
stores and added that the entry of the private sector
into procurement of foodgrain would augur well for every
one.
However, Bharti Enterprises, which recently signed
an agreement with Wal-Mart, was not looking to enter
West Bengal immediately.
Source: http://www.business-standard.com/
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