There
has been very powerful lobbying by the multinational retail giants to
open up the Indian retail market. Their object is that large
international chains must control the food supply chain and the
distribution of other items of daily utility in India, which is one of
the world's largest markets accounting for over 1/6 of world's
population. Succumbing to such a pressure, and subjecting to organised
and well-designed lobbying, the Indian government recently took the
decision to allow 51 % FDI in multi-brand retail trade and 100% percent
in single-brand retail trade. Therefore, no wonder that Bharti -Walmart
will not wait till all states in India allow FDI in multi-brand retail
to roll out its plans and may start opening its outlets from states like
Maharashtra and Andra Pradesh. The US retail giant Wall-Mart has said
that it wants to have a 51% controlling stake in a new front-end retail
company for which wholesale partner Bharti Enterprises would be a
"natural partner". Their ultimate goal is to conquer the entire retail
trade in India. Therefore, economic colonialism is going to take root
slowly. Therefore, the government should not stand on prestige and annul
the decision to allow FDI in multi-brand retail trade. It is alleged
that Havarti-Wall-Mart is illegally carrying out multi-brand retail trade.
Dr.C.Murukadas, ET, 30 Sep, 2012
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