Will support FDI if it benefits farmers, India's manufacturing sector: Akhilesh

New Delhi, July 24 (ANI): Uttar Pradesh Chief Minister Akhilesh Yadav on Tuesday said his party would support foreign direct investment (FDI) in multi-brand retail if it benefits farmers and India's manufacturing sector.

"We are not against FDI. When FDI in retail comes, the farmer should not be harmed," Yadav told media at a FICCI function held here.

"Netaji (Mulayam Singh Yadav) has said that farmers and small shopkeepers interests should be protected. Many stores have already come in. Was someone able to stop them? No. All states want investment. Many states want FDI. We are not against FDI. When FDI in retail comes, the farmer should not be harmed," he added.

The statement assumes significance since the Samajwadi Party (SP) recently wrote to Prime Minister Manmohan Singh, saying the government should not consider opening up the multi-brand retail sector to foreign direct investment.

The government had allowed 450 billion dollars supermarket sector to foreign firms such as Wal-Mart, but had suspended the decision to allow such investment in multi-brand retailing due to opposition from several parties, including some UPA allies. (ANI)