Ban Foreign Direct Investment in tobacco: Nirmala Sitharaman

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NEW DELHI: Commerce Minister Nirmala Sitharaman has stimulated a Cabinet proposal to totally ban Foreign Direct Investment in the tobacco sector positioning that the administration did not want to support foreign direct investment in this sector.

 The official declaration of the administration conveyed that tobacco will kill about 1 billion people in the 21st century if no powerful measure is taken.

Minister Nirmala Sitharaman has also further conveyed that, we wanted to be sure that for the manufacture of cigarettes or other things (in the tobacco sector), we do not want to support FDI because we have ratified (a framework of) the WHO.

Though, she also conveyed that the move could have a probable impact on tobacco farmers “but we have to look at substitute crops for them which will give them good yield.”