Under attack from rivals as well as allies for its recent spate of reforms, the UPA government received surprise support from the BJP leader and the former Union Minister, Arun Shourie.
Mr. Shourie, who is here to participate in a global inter-faith conference, said the FDI in retail and aviation sectors would neither help companies nor hurt consumers much.There would be “neither more profit nor much loss with FDI in retail and aviation.”
Five or six years back, Indian companies such as Reliance, Airtel and Big Bazaar came into the retail market, he recalled. “But right now, it is these big companies and not the small retailers that are in trouble financially,” he said. Mr. Shourie also supported the Centre’s decision to increase diesel prices by five rupees.
Keywords: FDI in retail, Arun Shourie
Honest views always carry weight. Arun Shourie's comments on diesel price rise and FDI in retail trade belong to that category. One can assert this, because he has been frank and forthright in lending support to Prime Minister Dr. Manmohan Sigh's latest moves, though, as a senior member of the BJP, he is well aware that his party holds an entirely different view and had a major role in the bandh organised by the opposition to protest against them. A distinguished journalist prior to his entering active politics, his unbiased views should be accorded due weightage.
It is a good thing alright, but why it has taken eight years to bring
this FDI reform? It is very obvious now that elections are round the
corner UPA wants to make the right noises.
Obviously for the minister of the government FDI in retail is not to be worried. Retail is not a rocket science that the US and European box stores have a monopoly of. In US, Canada 99.999999% of the products on the shelves are Asia. So why should an Asian country go to US to learn how to run a chain of box stores. The earnings of the foreign investors will leave the country without substantial results as compared to industry where a product produced is either for local consumption or for export. The employment in service sector comprise of the lowest wage earners. Further the box stores discourage labor unions in their organizations. It is these US box stores that helped China grow into an industrial giant.
State and Central government very greedy people. Why is China a rich
country and India poor? Becasue govt. is killing creativity with high
taxes which ensures only TATA and Birla can do business.
At last a sane voice. I want to Hug Mr Shourie.
Its heartening to note that an accomplished intellectual of Shourie's eminence has had the good sense to place the actions of UPA in proper perspective.
This despite his known BJP association.
And, in sharp contrast to Modi and the BJP ex finance minister taking out of context the PMs quote on money not found hanging on trees and pouring uncalled for ridicule on PM.
Mr. Shourie is one of the ardent supporters of neo-liberalism. It was only during his Ministership in NDA, many public sector units were handed over to capitalists for a pittance thereby causing huge loss to the country and causing large-scale unemployment. Although he is quite aware that FDI in retail will not bring any benefit to the people and enable the multinational retail giants to loot Indian people, he is telling that FDI in retail not a reason to worry. It seems that he has been bought by the lobbyists of multinational retail giants. It is also quite intriguing to note that he has supported the Centre’s decision to increase diesel prices by five rupees. It seems he is mocking at the sentiments of the people. By doing so he has turned a blind eye to the opposition to FDI for he is quite aware that all the opposition parties and some of the allays of the UPA II declared an all India bandh on September 20, 2012 against 51 percent FDI in multi-brand retail trade, besides against hike in diesel price and cap on LPG cylinders at 6 per annum. The bandh evoked unprecedently huge response all over the country and in many states normal life was paralised. The traders also called for an all India bandh on September 20, 2012, which receieved overwhelming support of all categories of retail traders and almost all shops from Kanyakumari to Kashmir remained closed on 20 September 2012 due to the traders’ bandh. The traders have gone to the extent of stating that they are even prepared to sacrifice their life for the cause of preventing 51 percent FDI in muli-brand retail trade.
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