Narayana Murthy favours MNCs in retail

n_murthyN. R. Narayana Murthy, Chief Mentor, Infosys, when asked by Karan Thapar on “Devil’s Advocate” programme on CNN-IBN, if he believes Foreign Direct Investment should be permitted in the Indian retail sector, said:

“Absolutely. When we have opened it (retail sector) to large Indian groups, which means that the mom and pop stores are likely to suffer anyway, why not open it to large multinationals.”

“MNCs would bring best technology and practices and at the end of the day, the consumer benefits.”

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