FDI in retail trade will not serve any purpose.

In the name of liberalisation, the large corporations are allowed to have a free run. They have been allowed to misappropriate the country’s resources legally as well as illegally with the support of the corrupt politicians and connivance of dishonest bureaucrats. Moreover, large corporates are being allowed to evade tax and misappropriate the hard earned savings of millions of people through Ponzi schemes. Large scale corruption and bribery   are going on in the country and politicians are hand in glove with the crony capitalists. Mr. Prakash Karat deserves appreciation for his statement that CPM won't allow Walmart or any other MNC retail chain to set up shop anywhere in the country. We feel that it won’t be possible for the Manmohan Singh government to muster enough support in the Parliament to push through the bill on FDI in multi-brand retail. The UPA government is now reduced to a minority status. Trinamool Congress has already announced the withdrawal of support to UPA government. The second biggest allay, DMK, has also said categorically that it would not back the government on any resolution brought against the government on FDI in multi-brand retail trade. Tamil Nadu Chief Minister, Dr. J.Jayalalithaa, has vehemently opposed 51 percent FDI in multi-brand retail. Samajwadi Party (SP) supremo Mulayam Singh Yadav has expressed support to Mamata Banerjee's resolution. Likewise, almost all opposition parties such as BJP, CPM, CPI, Janatha Dal (United), Telugudesam Party, BSP, and a host of other minor parties have expressed their strong resentment. Therefore, there is no chance for the UPA government to survive any no confidence motion brought by Trinamool Congress or any other party.

Dr. Manmohan Singh and the votaries of FDI in multi-brand retail know very well that it will do more harm than benefit the common man. In fact, in 2002, as leader of the opposition in Rajya Sabha, Dr.Singh fought tooth and nail against the introduction of FDI in retail. His colleague Mr. Priya Ranjan Munshi castigating the BJP, which was in power then and who tried to bring FDI in retail, said “it is anti-national to bring FDI in retail.”  Now, Dr. Singh says that FDI in retail is pro- national and is to be welcomed, irrespective of merits or demerits. 

This commentator has done extensive research on the pros and cons of FDI in retail trade in India. The results have been published in the form of a book entitled, “FDI in Retail Trade in India: a Retrograde Step” by M/s RAC Publications, No. 38 (Old No. 76-A) Choolaimedu, Chennai-60094. The study concludes as followers: “Evidences from various parts of the world indicate that   widespread   emergence of big format retail super stores have lead to extensive ruin of retail stores/shops thereby resulting in the loss of employment and livelihood to millions of persons involved in retail trade.… FDI in retail trade will not serve any purpose. It will do more harm than benefit the people.”

 Dr.C.Murukadas, Times of India, Nov.7, 2012