CHENNAI: Union Commerce Minister Anand Sharma on Saturday said that retailers can expect to have a growth rate of 13 per cent in the coming decade and could get supplies from outlets at special rates.Emphasising that FDI would benefit small enterprises, Sharma pointed out that 30 per of the procurement of manufactured and processed products should be sourced from small industries with an investment not exceeding1 million dollars.On the minimum amount to be brought in as FDI by the foreign investor, he said it would be 100 million dollars. “At least 50 per cent of the total FDI brought in should be invested in backend infrastructure which includes investment towards processing, manufacturing, distribution, design improvement and quality control.” To a query if the Centre was trying to shift the onus of creating retail back-end infrastructure such as cold storages on the investors despite the Union governments avowed objectives reflected in successive budgets, the minister said the view was not correct. “The government is building cold storages.” Asked if the Centre would take steps to allay apprehensions, he said: “The government, of course will do it.”
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