FDI will redefine Agricultural Management – PM Dr. Manmohan Singh

After winning the vote over FDI in retail in Parliament, Prime Minister Dr. Manmohan Singh addressed a speech on benefits of FDI in retail at the convocation function of Punjab Agricultural University (PAU) in Ludhiana on Saturday. In his confident speech he said that FDI in retail will be benefited for both farmers and consumers by due to introduction of new technology and investment in marketing agricultural produce. What PM said is "FDI will introduce new technology and investment in marketing agricultural produce. India must take full advantage of modern technology and operational and management experience of big supply chains in the food retail business to make this happen." He also added that FDI in retail is strongly welcomed and supported by Punjab farmer organizations.

On Friday, Government won the vote over FDI in the Upper house of Parliament even after close competition with non-supporters and blessings of vote abstainers. In his speech PM also said that current agricultural supply chain management system is inefficient and fragmented which creates loss in crops. And in turn creates difficulty to both farmers and consumers with inflation. As per FDI is concerned, PM said that the investment in back-end infrastructure will cause minimum wastage and also improve the income of farmers. He also addressed the contribution of PAU to Indian agricultural industry and also lighted some of the steps taken by Government to improve agriculture, which are: increasing agricultural research and using Bio Technology.

What was PM’s Point of View on FDI during 2002?

In one of his discussions with BJP leader Mr. L.K Advani during 2002, the then opposition Rajya Sabha member Dr. Manmohan Singh cited that ‘we should not permit Foreign Direct Investment in Retail Trade’ and he also added that “India does not require this kind of reform which would, rather than creating employment, destroy employment.”

As FDI in retail is been approved by the Parliament of India, we just have to wait to see some more news and what benefits it can bring to both Indian farmers and consumers. If it can really help the farmers as the PM stated then it will surely shut the mouth of opposition and also can help UPA to continue its political journey. If it’s another political hoax then it can crave in another large black spot on UPA’s face after 2G spectrum and black money issues.