De-Lurking on the Net

December 1, 2011

FDI IN Retail – Should India go for it?

Filed under: India — Geekay @ 5:27 pm
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Indian govt should definitely abandon the current legislation of allowing 51% FDI. I reckon it was ill thought. I have seen the High Streets of UK being cleared out completely leaving only food business and pound shops for the rest of the public. Once a new store opens anywhere, the high street gets doomed. Once the Indians were thriving big time in news agents shops across UK. Almost all of those are gone and new generation has gone onto job ladder. Not that it is a bad thing by itself as it helps integration with locals by being in job but often the newsagents shops had been the starting points of big businesses. The Kirana shops may not be paying tax but their punishment can not be cessation of their right to exist. At least they are not asking govt of India to help them like Kingfisher recently sought and ended up with bank dole out. By this single, insensitive act, please add millions to be pushed under new poverty line, if that is what we are aiming for. Indian Media is also playing the govt game in all issues including the retail. Now, Konimozhi, the dear daughter of Karuna Nidhi (DMK chief) is out, so the DMK won’t go against govt. Once the nod is given across the country, there can’t be a rollback. The govt talks of jobs creation but do not talk of far more job losses. The FDI should have been debated in house and allowed in very rich areas only and not across all country in cities over a million population. It should have been seen working and its effect must have been examined first.


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