The excellent article clearly exposed the ill-effects of FDI. In the name of liberalisation, Prime Minister Manmohan Singh is opening up the economy without taking into consideration the larger interests of people. As it is, consumerist culture is prevalent among the urban middle-classes. Walmart, Sears, McDonalds, etc., will make them more consumerist in their outlook.
I agree with the views expressed in the article. FDI in retail will create a small category of well-paid people but displace many self-employed businessmen. The UPA government must rethink its decision to introduce FDI in retail.
India should learn from Mexico’s mistakes and adopt a mechanism that will help stabilise the economy in the long run. It should import foreign technology and integrate it with the domestic retail industry. This will serve the interests of all sections.