The Wal-Mart Phobia

“Panic and protest” said the common shopkeeper.
“Progress and provision” said the Congress.

As 51% FDI in multi brand retail and 100% FDI in single brand retail sector has been accepted in India by our honorable Prime minister and the UPA, a storm of intense fear ran into the nerves of the small/medium retail store keepers and few other people who are able to feel for them like our own Didi (Mamata Banerjee).


We, the consumers love to consume, love to shop, love to eat and thus love to spend. Nobody can deny the fact that after the beginning of multi brand retail and the mall culture, our ability of shopping has been ballooned (both quantitatively and qualitatively). The trickery of these big shops with beautiful products seduces us and we, poor mortals shop more and more from the big bazaars. As a matter of fact, it fulfills all our desires and draws a smile on our face. So the consumers will love the Wal-Mart and other retail giants.

Another optimism Wal-Mart will bring is for the poor farmers and the unemployed people. These brands will directly buy from farmers, leaving them with much more money than they usually get. Plus more than 10 million jobs are expected to be created in 10 years. Isn’t this a great step for the development of the country? Aren’t other countries enjoying the benefits of FDI in retail without hurting the small stores?

So where is the phobia?
It is with those shopkeepers, who their shops will run dry. This may or may not happen.
But as everything has pros and cons, FDI in retail too comes with the package of good and bad (more good though).
The phobia will stay. But the change is inevitable and it will come, for the good.

 

 

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