HYDERABAD: State Chief Minister N Kiran Kumar Reddy has announced that Andhra Pradesh is in favour of foreign direct investment (FDI) in multi-brand retail as it would help the consumers and also the farmers.
Reddy said, “I have already communicated the State’s consent to the Centre. There will be a lot of value-addition to our produce which will ensure quality products at lesser prices. Obviously, it will benefit the farmers as well.”
Moreover, the absence of proper facilities (for processing and storage) was leading to rotting of aqua products, vegetables and grains.
FDI in retail would help improve marketing, packaging, processing and also storage networks in the rural areas.