It is a fact that large Indian companies have been into retail trade for a number of years with a presence in all important cities and towns. One cannot deny the existence of more malls and departmental stores than what was there a decade ago. Despite the presence of these stores, small traders are still in business. The same thing will happen when the MNCs come into the business. In fact, this will spur competition and benefit millions of consumers. The demise of the small traders is a myth. The MNCs will have to follow the rules and regulations laid down in our country. Thus, there is needless apprehension about the proposal on FDI in retail.
Contrary to Prime Minister Manmohan Singh’s strong belief, allowing FDI in the retail sector is not a panacea for all ills coming in the way of India’s economic growth. His speech, promoting the FDI issue, was more like a script prepared by the communications department of a multinational firm than from the Prime Minister’s Office. Multinationals will run riot once allowed to set foot here.
Dr. D.V.G. Sankararao,
The speeches of political leaders often acquire immortality for their inspiring and felicitous language like “blood, toil, tears and sweat,” by Winston Churchill, “we made a tryst with destiny,” by Nehru and “I have a dream,” by Martin Luther King. On the other hand, Prime Minister Manmohan Singh’s address to the nation (Sept. 22) has courted everlasting infamy for its use of the inappropriate and insensitive cliché “money does not grow on trees.” Instead, the speech spoke the language of obduracy, indifference, and condescension. The parallel with the French Queen’s advice to the people “if there is no bread, eat cake” can hardly be missed.