No FDI in Retail

 

FDI in Retail is Whale! Beware Of It

Farm to fork control by single companies like Walmart in India opens huge market to foreign control or practical slavery, in many sectors of India. This is being proposed when America is putting additional barriers to Indian companies calling them Chop shops.

It is impossible to comprehend, why should we want the foreign big fishes to come in India and swallow the Indian trade. They will simply make the retail sector out of reach of common family stores providing employment to millions of Indians. It becomes difficult for the small traders to compete with even simple malls. But slowly people are getting used to it. But exposing so many sectors like farming, food processing, packaging, purchase, transport, supply and up to dining table service, to international big companies, means a crippling blow to small business opportunities.

It amounts to sheer handing over a significant percentage of trade to big fishes. This move should be resisted at every cost. The argument that retail sector is growing and it will not affect the existing employment opportunities is not appropriate. In fact our unemployment levels are very high and poverty levels more as compared to west.

Retail sector is easy transmission of jobs in families to our illiterate, semi-literate and qualified youth. Most of the population is in some way connected intimately in some way or the other to job structure, already created assets, small factories, repair shops and transportation. It should strongly be an area, where foreign control should not be permitted at any bargain.   

Social uplifting of India can not be achieved by bringing in Walmart to India, but letting better utilisation of existing small grass root network, so intimately related to every far of area of even rural area. Fifty one percent holding by FDI will put a final death nail to indian control over trade.

The move appears to be propagated by the vested interest groups in India and their foreign patrons.  The move is in no way helpful for India.

FDI should be permitted only in infrastructure and other areas crying to be developed. FDI should be permitted where we need it and not where a foreigner wants to invest.

Opposite view 

  • TOP ARTICLE: Open Markets, Open Minds
    Liberalisation can create a retail revolution with huge gains for farmers and consumers

     

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    3 Responses so far »

    1. 1

      Within my knowledge in financial management,I can say FDI may be allowed only in Heavy Industries,Steel and Corporate Banking.Rest should be out of perview of FDI.

    2. 2

      Thanks for concurring with the views.

      Dr. Madan Goyal

    3. 3

      Part of the contents of this post now form a comment in TOI news item referred to above.
      Auther


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