Letters to Editor TOI, About FDI on retail

When the economic and business professors started political analysis about FDI in retail business, we have again lost an opportunity to understand the issue properly. In the half page write-up, there were only three points they could hardly put forward to support FDI; one is that local stores will exist because majority of Indian don’t have car and fridge and the personal rapport with the shop keeper exists only in local stores. Second is that it brings cheaper goods, so pro-poor. Third is the agricultural prosperity that can be achieved by higher capacity of storage and refrigeration.

                        It means the foreign shops coming here are for rich people(Having car and fridge), not focused for poor. So the cheaper goods selling in these shops are obviously for rich and at last the high storage capacity of these shops will of course increase the agricultural prosperity, but of which farmer? The products of farmers who produce cheap will be stored and it can be from China also.

            Success stories of FDI are ok but we expect reason and logic behind it from scholars so that we are able to understand the issue absolutely.