FDI in India The objection of the opposition parties to Foreign Direct Investment (FDI) in retail programs is bizarre. FDI in retail will attract investments into the country, ease the trade and supply chain, reduce and stabilize prices and foster a better working environment in India. Political leaders in many states are against FDI in retail without understanding the program and are merely indulging in rhetorical drum-beating. Mayawatiji, Chief Minister of Utter Pradash state, said that FDI will make her state ‘kangal' (bankrupt) over five years as “small traders will be forced to close shop”. Jayalalithaji, CM of Tamilnadu also opposed the entry of hypermarkets like Wall Mart. Mamta Banarjee, CM of West Bengal, has been doing everything possible to stall FDI in retail. Sharad Yadavji of Janata Dal claims that the project will cause vendors to become unemployed and destroy the unique village economy of the country. All of this is empty talk. What is the “unique village economy of India” and what does it have to do with supermarkets in the cities? Many of the critics of modern trade may not have visited a hypermarket. They should visit a supermarket in Bangkok, Thailand or in Muscat, Oman to understand how hypermarkets serve consumers and producers in the villages. We have to change our thinking and paradigms. Political parties oppose these programs to get votes by making emotion-charged statements. Most political leaders and parties in India do not understand the dynamics of trade. We should not allow their ignorance to decide the future of our country. Rajendra K. Aneja, Dubai __
