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Dec 15, 2012 at 09:03pm IST

FDI in retail not the only solution to boost economy: Nitin Gadkari

New Delhi: Contending that FDI in retail was not the only solution to boost the economy, Bharatiya Janata Party chief Nitin Gadkari on Saturday said a strong political will is required to create a climate which encourages capital investment in the country. "FDI in retail is not the only solution and economic reform. We have some reservations and that is why we have opposed it," Gadkari said, addressing industrialists at the valedictory session of 107th Annual Session of PHD Chamber in New Delhi.

Lamenting that a "strange" kind of atmosphere prevailed in the country, the BJP chief said, "We are caught in a vicious circle and we have to come out of it. Thus there is need to create a good investment climate." He said the 21st century politics is that of progress and development and called for bringing such policies that converted problems into opportunities to help make India an economic superpower.

"We need to bring a positive, development-oriented approach and fast track processes. For this we need a strong political will," he said. Talking about FDI in retail sector, the BJP chief said foreign companies will come and create pre-cooling plants, cold storage and godowns for storage facilities and wondered if the country even after 65 years of independence was not capable of creating such infrastructure like godowns.

'FDI in retail not the only solution to boost economy'

Expressing hope that BJP will soon come to power, he urged industrialists to invest within and not invest in foreign shores.

Expressing hope that BJP will soon come to power, he urged industrialists to invest within and not invest in foreign shores as his party would bring about an industry and development-free atmosphere that will encourage investment.

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