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FDI in retail: Govt should win over youth, says Apollo MD Preetha Reddy

The recent move the government has made in unleashing reforms, including foreign direct investment (FDI) in retail, is a very positive one, writes Apollo Hospitals Enterprise MD Preetha Reddy.

     Last Updated: May 9, 2013  | 16:44 IST

Apollo Hospitals Enterprise MD Preetha Reddy
The recent move the government has made in unleashing reforms is a very positive one. The responsibility of any government is to see that the economy is sustained for a long time. Sustainability is thus a critical issue.

So, in increasing the diesel prices, we frankly did not have an option. We cannot really sustain an economy on subsidies. At some point, they have to go.

It is a hard decision and a tough call. But I think, if the government can actually get the youth of the country - who are very discerning - to bat for it and convince them that this move is to secure their future, it will have lot of support.

Likewise, allowing foreign direct investment (FDI) in multi-brand retail, as it has happened in developed economies across the world, raises the bar on products, ensures better pricing and increases competition. Where ever there is competition, the consumer is the king.

We need to think for long term. We should not look at it as politics but see it very pragmatically as to what it will do to the future of the country.

The recent moves have also addressed the issue of policy paralysis in the government.

As a chief executive officer, I have always felt that some decision is better than no decision at all. Even in a company, lack of decision-making leads to apathy and people get worried and depressed.

These announcements have rejuvenated the country as some decisions are being taken. Something is moving in the right direction. I am really delighted that there is some movement of late.

Preetha Reddy
MD, Apollo Hospitals Enterprise Ltd

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