The retail industry in India is of late often being hailed as one of the sunrise sectors in the economy. AT Kearney, the well-known international management consultancy, recently identified India as the second most attractive retail destination globally from among thirty emergent markets. It
has made India the cause of a good deal of excitement and the cynosure of many foreign eyes. With a contribution of 14% to the national GDP and employing 7% of the total workforce (only agriculture employs more) in the country - Why the government proactive to it ?
As India is developing country with more that 100 crore population ....most of the European countries aims to catch Indian market for their business.
European economy is struggling to come out of recession.They all like to do the business for their own interest and not to develop India.
Allowing FDI will cause millions of Indian business people / trders to lose their business.
Our P M ... M M Singh always believes that opening Indian market to foreign traders will bring down the prices...That's not true.......India follows economic policies of Congress since many years,...Ever they brought down prices of commodities ?
M M Singh is always theatrical professor...It is hard for him to realize the sufferings of common man.
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I fully support the views expressed by AT Kearney on retail sector.But our case is a bit different. Our people r illiterate.Poverty n corruption is wide spread.If we allow FDI in retail our farmers may be benefited.We may get un adulterated goods.But it will make a vast majority of our retailers unemployed.Even though it has been said that the FDI in retail will open their shops in metros n big cities n will have no impact on our small retailers of smaller towns n villages, I am not sure about this because as per WTO agreement there has to be free trade among countries n the FDI in retail may take shelter under this clause to open their stores any where.