Mamata opposes FDI in retail, other sectors

The strong opposition by Trinamool Congress against allowing FDI in key sectors like retail, insurance and aviation arguing that it would be harmful for the people of the country is a welcome phenomenon. In fact, almost all opposition parties, most allays of UPA and many Congress Party men are against such neo-liberal reforms. A Company like Wall-Mart, if it enters India, will sell everything tradable in the retail market, which an ordinary retailer can never imagine selling. The tiny traders will never be able to stand the price war created by these big retailers and as a result they will not be able to survive. These persons will not be able to find jobs in other sectors because of lack of job opportunities. Experiences show that even retailers in the organised sector will not be capable of facing the onslaught from firms such as Wall-Mart, if and when it comes. Therefore, allowing the multinational retail giants into India tantamount to opening the Pandora’s Box. The Hindu, August 23, 2012.