U.S. President Barack Obama’s unsolicited advice to India on the need for a second wave of reforms is ridiculous. He himself is neck deep in crisis and is toiling hard to find ways to help his country come out of the clutches of a severe economic crisis. He should waive protectionist measures in his country first. His ideas on outsourcing and other issues show him in a different light altogether.
Many people think the U.S. is the finest example of free economy, open market and free trade. But, in the light of its recent trade relations with many countries, one gets a different picture. Even China has criticised its “desperate protectionism.”
It is the duty of a state to protect the basic livelihood of its citizens even at the cost of economic development, if necessary. After agriculture, retail trade is the largest sector in which people of India are engaged. The government’s misdirected policies have already played havoc in the lives of farmers. It should not yield to pressure from the U.S. on retail trade. We can survive without multinational brands but cannot afford the elimination of retail trade.