Industry & Economy
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Foreign Direct Investment
Cola ban not to impact FDI: Assocham survey
Our Bureau
New Delhi
,
Aug. 15
The partial ban on cola sales in certain States would not impact the FDI inflows into the country and the claim of the US to the contrary is `exaggerated,' felt 89 per cent respondents to an Assocham conducted survey.
Seventy-six per cent of the CEOs and MDs surveyed did not agree to the comments of the US Under Secretary for International Trade, Mr Franklin Lavin, who had stated that "this kind of action is a setback for the Indian economy."
The respondents said the Indian reform process has come a long way since 1991 and is too deep-rooted to be affected by occasional issues which become, at times, contentious.
A majority of 91 per cent of the respondents also felt that it was time that the safety standards were finalised by the Government after taking into account the views of the stakeholders — beverage companies, industry, state governments and the NGOs.
They said composite standards in the food chain were important not only for the colas but for other products as well. As for aerated soft drinks, the Indian market has assumed a critical mass and the economy is large enough to set its own standards. The country does not have to necessarily look elsewhere. The respondents said that while the WHO norms can become the basis of safety standards, the suggestion that an agency outside India would be more credible than within the country was not acceptable to the domestic industry.
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