The Andhra Pradesh Flue-cured Virginia Tobacco Growers’ Association has decried an Indian government proposal to allow foreign direct investment (FDI) in the domestic tobacco industry, according to a story in the latest issue of the BBM Bommidala Group newsletter.
The association believes that such a move would undermine the domestic industry.
In a petition to the Indian Minister of Commerce and Industry, Anand Sharma, the association said that FDI would pave the way for the free entry of multinational companies, which would adversely impact the livelihood of millions of growers.
It warned of a loss to the exchequer of Rs56.60 billion during the next three to four years.
Category: Breaking News