FDI in retail is an eyewash. Govt is trying to sell the country in the name of FDI. to create a few lakh jobs, more than 5 crore kirana employees are at stake.
It will create modern East India Companies in India ... Wall Marts have not created jobs for their Americans in their own homelands as evidenced by `Occupy Wall Street` Movement ... and how come they create jobs in India. Distributed small and medium outlets have created more jobs in India than the one they are talking about.
Yes, but will the foreign Retail Chains be able to compete with Kirana stores because 1) difficult to avoid taxes and cess. 2) difficult to sell spurious product. 3) difficult to sell adulterated products. 4) difficult to sell shelf life expired products.5) difficult to cheat on weight/quantity. 6)difficult to engage child labor. 7) difficult to engage cheap labor and cheat on wages.Hence, it is better for them not to open retail chins in India
coin has two sides. every decision taken in the context of economy will have both pros and cons. will create quality jobs, but need to compromise on some other economic parameter. ultimately, common man should not bear the brunt.