"This (FDI in multi-brand retail) will promote competition, as we see it prima facie. At least by the stated objective. Let's see how it works. Once they come, their functioning will be clear and then we can see if at all there is a need to step in," CCI chairman Ashok Chawla told PTI.
Notwithstanding the uproar by political parties, Chawla said that there would be no over-vigilance of multi-brand retail. The sector, he said, would be regulated 'like any other sector with no special dynamics'.
Government's decision to allow 51 per cent FDI in multi-brand retail prompted UPA ally Trinamool Congress to withdraw support to the government.
Other political parties including opposition BJP and Left parties too expressed their reservations on opening of multi-brand retail to FDI.
The decision, however, was welcomed by the industry which
described it as 'a huge mood lifter'. Experts too have viewed the
move as a pro-reform process and something that would benefit all
stakeholders -- farmers, small manufacturers as well as