FDI in retail to add over 10 million jobs in 3 years: Govt

The government on Friday assertedthat opening up of multi-brand retail for foreign players will create over 10million jobs in the next three, brushing aside all criticism including from keyUPA ally Trinamool Congress.

"My initial estimates are that it will create over 4million jobs in the country and in logistics about 5-6 million jobs in threeyears," Commerce and Industry Minister Anand Sharma said.

The guidelines regarding the decision to allow 51 per centFDI in the multi-brand retail will be issued by next week, the minister saidadding "I expect billions of dollars of FDI will come in the sector".

He also said that the steps taken by the government willhelp Indian farmers "immensely" and would also help in creating jobsin sectors like agro and food processing and bring FDI to build infrastructure.

He, however, said that all proposals relating to multi-brandretail would be cleared by Foreign Investment Promotion Board (FIPB) and theretailers would have to take license from the respective state governments toset up the stores.

The decision has been criticised by the entire oppositionwhich was also joined by UPA ally Trinamool Congress on the issue. .