BANGALORE: The Southern chapter of the Associated Chambers of Commerce and Industry of India (ASSOCHAM) welcomed the Union government’s decision to allow Foreign Direct Investment (FDI) in retail sector. Speaking at a national seminar on supply chain management in the city J Crasta, co- chairman, ASOCHAM, said, “This decision is going to immensely help the farmers, small and medium scale industries and the end consumers.”The forum added that in times of economic challenges like these, prudent measures provide numerous opportunities of cost saving. This cost saving will create ‘value’ for all the stakeholders such as logistics service providers, warehousing companies, fleet operators, corporate organisations, retail chains and the end consumers among others.In India, the market tends to lose as a result of farm products due to supply chain issues , he said. The consumers can benefit from lower inflation if farm produces are accessible through effective supply chain management, observed. Stating that this would add to financial inclusion, he said ASSOCHAM is pursuing work in Cluster Development for Inclusive Growth in various parts of India. The total funds required to provide basic and essential infrastructure to these clusters will be about `500 crore which could be mobilized through Public-Private Partnership (PPP), he observed.
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