Gogoi described the decision of the Union Cabinet as "bold" and said under no circumstances should it be reversed.
"I welcome the decision of 51 per cent FDI in multi-brand retail. It will benefit the farmers, consumers and boost the rural economy with the setting up of cold storage and other infrastructure," he said at a press conference here.
The Chief Minister said he was among the first to ask the Central government to take the decision of FDI in multi-brand retail as it would help in the growth of small and medium enterprises, cottage industries and overall rural economy.
"The Prime Minister and the Union Cabinet have taken a very bold decision and they should stick to it despite opposition from certain quarters," he said.
Asked about the opposition of Trinamool Congress chief and West Bengal Chief Minister Mamata Banerjee to the move, Gogoi said "how can Mamata or anyone else prevent other states from implementing it".
Gogoi said the benefits of economic reforms initiated by Manmohan Singh as Finance Minister in early 1990s is being reaped by everyone now and yesterday's decision would be cherished by everyone in the years to come.
On the 72 hours ultimatum given by the TC to roll back the decision, Gogoi said "there is no threat to the UPA government".
The Chief Minister also welcomed allowing 49 per cent FDI by foreign airlines in Indian air carriers.