Foreign Direct Investment is double Edged Sword
Our governments in the past were careful in deciding the areas and extent of foreign investment. It was allowed in the spheres of infrastructure, production of machinery, equipment and goods and such other areas that made India self reliant. This approach was different from that of Pakistan that allowed the markets to be flooded with foreign goods. By permitting foreign investment in retail business, our emphasis has shifted from producing indigenous goods to selling foreign goods.
It is true that millions of jobs of porters, sales personnel, watchmen and petty workers will be created but indigenous research, production and self reliance will occupy back seat. The example of computer technology is completely misplaced as India is a leader in software technology. She cannot hope to become giant grocer. Foreign direct investment in retail is after huge Indian market and cheap labour.
There is no denying they will sell Indian goods also but no one will stop them from bringing Chinese, Japanese, Korean and most other consumables items that will be cheaper than Indian goods. Hope we have read what had happened to artisans of India when East India Company had started bringing clothes from Manchester.
It will never be a level playing ground for us. Foreigners can always find arsenic in our Basmati as Americans did a few days ago. Our goods will continue to be rejected in foreign markets on one or the other pretexts. Their goods will be welcome here due to slave mentality of foreign tag.
This is the worst time to open Indian markets to foreign retailers. Our leaders today are dishonest, corrupt and spineless. We can only remember the administration of Patel, vision of Nehru and leadership of Indira Gandhi. Without such leaders, without robust economy and without preparation to compete, we may not get advantage of free economy.
Our governments in the past were careful in deciding the areas and extent of foreign investment. It was allowed in the spheres of infrastructure, production of machinery, equipment and goods and such other areas that made India self reliant. This approach was different from that of Pakistan that allowed the markets to be flooded with foreign goods. By permitting foreign investment in retail business, our emphasis has shifted from producing indigenous goods to selling foreign goods.
It is true that millions of jobs of porters, sales personnel, watchmen and petty workers will be created but indigenous research, production and self reliance will occupy back seat. The example of computer technology is completely misplaced as India is a leader in software technology. She cannot hope to become giant grocer. Foreign direct investment in retail is after huge Indian market and cheap labour.
There is no denying they will sell Indian goods also but no one will stop them from bringing Chinese, Japanese, Korean and most other consumables items that will be cheaper than Indian goods. Hope we have read what had happened to artisans of India when East India Company had started bringing clothes from Manchester.
It will never be a level playing ground for us. Foreigners can always find arsenic in our Basmati as Americans did a few days ago. Our goods will continue to be rejected in foreign markets on one or the other pretexts. Their goods will be welcome here due to slave mentality of foreign tag.
This is the worst time to open Indian markets to foreign retailers. Our leaders today are dishonest, corrupt and spineless. We can only remember the administration of Patel, vision of Nehru and leadership of Indira Gandhi. Without such leaders, without robust economy and without preparation to compete, we may not get advantage of free economy.
