FDI in Retail dangerous for India & benficial for US and Europe

Are we on the same track what we did in 17th Century by allowing East India Company to trade in India?.FDI in retail will “enslave India” – in the way that the East India Company did.

Indian government was acting under external pressure instead of working for the people of the country by allowing FDI in retail.The merits of FDI touted by the government were unsubstantiated & misleading the nation.Governments in the US, and Europe have been pressurising the Indian government to allow multinational companies based in their countries to be ‘specifically’ allowed  into in the banking, insurance and retail sectors under the veil of fiscal reforms.

The Congress-led central government may raise FDI in single-brand retail to 100 per cent from 51 per cent at present.It is also said to be planning to permit 51 per cent FDI in multi-brand retail, with conditions including the purchase of at least a third of goods from local companies.

The government has argued that the decision is an attempt to tame food inflation and boost the economy by stimulating demand and consumer spending.Inflation is a global phenomenon and big corporations like Walmart have not helped to tame food inflation anywhere.

The big players who are expected to enter the Indian market once the proposal is agreed upon, Walmart, Carrefour and Tesco, are largely dependent on groceries for their profits, and it has been shown everywhere in the world including in the US, that groceries are more expensive at supermarkets. 

Govt. claims that  farmers would benefit from the move.It doesn’t make sense for retailers to procure from farms which are less than 10 hectares in area, which constitute a more that 96 percent of the total agricultural land.

Exploitation by organisations like Walmart have been recorded across the globe.They don’t allow trade unions, they don’t allow employee unions, they have the worst environment records.Germany has kept Walmart out of its markets.

Govt. again gone wrong when it claimed that 40-50 lakh jobs would be created if Walmart, Metro, Carrefour and Tesco came to India,whereas 90% of their business is in foodgrains in which the present turnover here is $4 billion and there are 1.10 lakh jobs.The turnover should be $180 billion to create 40-50 lakh jobs.

If FDI in retail sector is allowed, small traders will lose their jobs, as their products or services will not be able to compete with foreign traders.

NO FDI in India......