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2012-12-07

FDI in single brand retail will benefit SMEs: Muniyappa

FDI in single brand retail will benefit small and medium enterprises (SMEs) as they will get access to capital and latest technology, said Minister of State (MoS) for MSME, K H Muniyappa in a written reply in the Lok Sabha on Thursday.

FDI in single brand retail will benefit small and medium enterprises (SMEs) as they will get access to capital and latest technology, said Minister of State (MoS) for MSME, K H Muniyappa in a written reply in the Lok Sabha on Thursday.

The minister said, "FDI complements and supplements domestic investment. The SMEs would be benefited through FDI, by way of enhanced access to supplementary capital and state-of-the-art technologies."

Also, SMEs would get exposure to global managerial practices, technologies as well as opportunities for integration into global markets, the minister added in his reply.

"As per the existing policy, FDI in MSEs (as defined under MSME Development Act 2006) is subject to the sectoral caps, entry routes and other relevant sectoral regulations," replied Muniyappa over the steps taken by the government in safe-guarding SMEs interest.

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