Another blunder has been made. The new FDI policy is sure to take its toll on the Indian traders and consumers. PM Manmohan Singh thinks he has done a great thing but due to that the first danger is, the local traders (the Bandiwalas, standalone shops etc) are going to be wiped out. As I is, they have literally reached the end due to the presence of Indian corporate like Reliance and others.
But with foreign investors, the revenue will go there. Once they enter retail market local shopkeepers and sellers will go unemployed. What sort of a reform is that? The PM and Sonia Gandhi are thinking that they are bringing a revolution but no. Just like during independence struggle there was the banning of ‘Videsi Vastra’ something similar will happen here.
Of course, due to our lifestyle we may not get rid of the clothes but if this penetration increases then the ‘Videsi Vastu Bahishkarana’ will happen. A revolution will start if things go out of hand. Yes, unemployed youngsters will be given sales jobs but that’s going to be the start and end of their career and lives. I recall a time when an indigenously developed Globe 7 smartphone was made even before the time of iphone or Blackberry.
But to get that to India, the political system didn’t entertain. They said BSNL will get a blow. When a proposal of selling the smartphones to BSNL was made, this was also discouraged citing lack of funds. And today, smartphones mean nothing but Samsung, Apple, Nokia, Blackburry etc. Loads of reviews are also written and huge publicity is done by the media. No one bothered about Globe 7 then.
It is simple, what our people do our media doesn’t like. Indians have a kick for foreign stuff. That’s why we see so many foreign cars, phones ruling our market. Though best technology is there it is being throttled due to our damn political system and impotent administration system. Now with this FDI they are bulldozing the whole scenario. I strongly believe Manmohan and Chidambaram’s...
Please join StudyMode to read the full document