TNI Bureau: With the approval of the much-awaited FDI in retail by the government of India, can the country fight against the slow economy? The set up of the western market will increase the value of Indian currency against US dollar? Many questions are disturbing the educated mass, while the government is batting for the Wal-Mart.
Wal-Mart is not at all a good idea for India. The reason is twofold – Economic and security. And Wal –Mart will hamper India both in economy and in security.
Wal-Mart has been lobbying the Indian government for years to open up the country to foreign retailers. In 2007, it entered into a 50-50 joint venture with Bharti Enterprises Ltd. to operate wholesale-style shops to sell wholesale items to small-business owners.
The toughest blow that Wal-Mart will bring to Indian economy is the economic disaster that will swallow Indian small business houses and owners. Moreover, if we bring in Wal-Mart, we will be flooded with China made stuffs at prices which would destroy our small businessmen and manufacturers. In other words it can be rightly said that Wal-Mart will send the jobs to China and money to America and nothing to India.
Competition is good, but one of the requisite criteria is that it must be fair. And unfortunately the current economic picture of world market does not seem to be a fair one. Point is that our local Indian shopkeepers cannot compete with some outfit like the Wal-Mart, as they are not equipped to deal with.
Then the more important question is security. There are two ways to win or take over a country, of whatever size, quality or strength it may be; either win it through war, I mean using power, or economically capture it. Captain Ajit Vadakayil has very minutely described in his blog in this context that how our most important secrets can be known to others through putting the RFID, the radio frequency identification tag in Wal-Mart’s product and his precious findings cannot be ignored.
It is a fact that due to the failure of the Manmohan Singh government, which has been allegedly involved in a long list of scams, currently India is not moving through a good time. Again looking into history of India, it seems that our innocent decision makers have many times have been fooled, due to either Indian simplicity or due to scabbing of some others. In this context, Wal-Mart may make India more vulnerable.
The big achievement that Wal-Mart may bring to India is expected to be a great number of employments. But what is the meaning of getting an employment by losing our own business?