FDI in retail will help flatten prices: Basu

The entry of foreign capital in India's retail sector will bring about an immediate correction in prices, and it is in the country's interest to harness the resources that will flow in from large global retailers, chief economic advisor Kaushik Basu said on Friday. "In the short-term there may be a very small amount of turmoil… but a price flattening will take place," Basu said at the Hindustan Times Leadership Summit here.

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