FDI suspension a step in right direction: Moily

Moily says discussion is a must in democracy and everyone's participation is necessary.

Describing the move to suspend decision on FDI in retail as a step in right direction,Corporate Minister M Veerappa Moily on Wednesday said the intention is to keep the policy on.

This is a step in right direction. Ultimately we want the policy to be on, Moily said.

Justifying the decision,Moily said,In a democracy participation of everyone is necessary. Ultimately it has to be implemented by state governments. If state governments do not implement the FDI,then it would be a non-starter.

Story continues below this ad

Moily,however,did not agree with the suggestion that with the suspension of FDI decision,it was put in cold storage.

In a democracy discussion is a must. When they want the discourse,they took a decision. Consultancy is required, he said.

Asked whether the corporate world needs FDI,he said,This is not (about) the corporate world,the entire country needs it. Farmers also need it,consumers need it. There are the instruments where you can control inflation,create one common market,remove barriers. You can give better prices to farmers.

H-1B $100,000 entry fee explained: Who pays, who’s exempt, and what’s still unclear?

Explained2 hr ago

The White House's decision to impose a $100,000 entry fee on H-1B visa holders has sparked worry among Indian tech workers and students. While uncertainties remain about its implementation and exemptions, major tech companies have cautioned employees against traveling. The policy could lead to a shift towards other visa categories and potentially change the STEM immigration pipeline.

View all shorts

Live Blog