FDI in retail, the burning issue in India at the moment that is stalling parliament in the ongoing winter session is a serious issue. I am no economist or soothsayer to predict the outcome of this bone of contention between the government and the opposition.
However- There is a ‘however’ in everywhere these days…
From what I have gathered by reading various economists, both Indians and others parked outside (oops!), foreign direct investment is a good thing to happen in India in the long run.
• It will benefit consumers who will obtain commodities at a much lower and competitive price
• Local farmers will also benefit by selling their produce at a higher rate than before (contrary to what they think now).
• World-class brands will be easily available in India to which we did not have access till now.
So on and so forth.
Haan Ji! Of course we need to apply restraints in form of regulations and bindings.
But retail shop owners are wary of the presence of world biggies like Wal-Mart, holding wide spread protests and the government to ransom. Most of their apprehensions are just illusionary as the advent of such international players would only pave the way for a bigger market share.
What they have failed to realize is that the biggest threat is not from FDI but the online shopping trend that is fast catching up with the Indians. Is there a way of curbing the spread of such a rage? With the popularity, convenience and value for money, I don’t think people would like to stay from it. You order and items are delivered right at your door step. No wonder, sites like the naaptol, homeshop18, indiaplaza, ebay.in, futurebazaar, letsbuy, shopcorn.in, tradus.in, shoppersstop, indiamart, shopping.indiatimes are doing brisk business.
This is the way shopping and marketing has ushered in the 21st century as we are bracing for newer ideas and techniques to suit our needs.