Friday, June 03, 2005

FDI in Retail - Cui Bono

Minister for Commerce & Industry, wondering.....

It has now fallen to the lot of Kamal Nath to execute the script to allow FDI in Retail and let the likes of Wal-mart begin plundering the Indian market at the cost of the home-grown retailer.

The decision has far-reaching implications but has already been taken and is being pushed through while the Indian public is still looking for the answer to the question: Cui Bono? - For whose benefit is this decision?

The Left parties, to their credit, have made noises in this regard. But of late, the Indian public has started to wonder just a little if their protestations are pro forma or meant to be taken seriously.

The irrevocable nature of such decisions warrants a more thorough and wider debate, not only within the confines of the Government or the UPA co-ordination committee. The people of India need to be involved in some way, at least as far as this particular decision is concerned, as it will directly impact the livelihood of millions of persons dependent upon the existing retail structure largely comprised of small traders. Unless, of course, there is imminent need for the Honorable Prime Minister to personally carry the 'good news' to the U.S. Administration during his forthcoming trip to the USA.

"If it was necessary to give the briefest possible definition of imperialism, we
should have to say that imerialism is the monopoly stage of capitalism."

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