Stand on FDI lamented

BANGALORE: The Bangalore Chamber of Industry and Commerce (BCIC) expressed its disappointment over the UPA government’s decision to shelve the new FDI policy on retail sector.“It is unlikely that the government will revisit this decision in the near future”, said Dr Vinod Nowal, president, BCIC. In a press release here, he said: “We are concerned at the rollback of the FDI policy in  retail sector. This is a step backward and will result in slowdown of growth and continuation of inflation and delay the benefits of better price to farmers and consumers and continue the wastage of huge amounts of food, experiencing at the time of high food inflation.”