Foreign Direct Investment (FDI) in
retail sector could be the end result of the trend called
Globalization and I don't think anyone can swim against this current
nor resist it. Globalization has made globe a small village and
opened up a wide open market where any big players could easily sell
and buy the products in the market. It has opened up a new door for
investment and trade.
I think Indians are increasingly fond
of foreign goods and services and place them in higher pedestal than
any desi goods and services. I feel that we are still under the
hangover of the colonial rule where we have greater longing for
foreign goods and services. By and large, FDI might affect the
domestic market but the kind of avenues in terms of quality and
longevity would be far excellent than that of the desi products.
Human psyche always chases the new
stimulus that is being presented than what is cliché and
domestically produced. There is a proverb in vernacular language
which goes 'The Jasmine that is there in the courtyard does not smell
nice.' We don't value what is desi and that is how the consumer
psychology fabric has been shaped over the period of time.
The western culture that is being
widely spread in India has fuelled everything and gave a momentum for
FDI in India as well. Change is the changeless reality, now the
change is bound to happen and I don't think India can ever resist
this change than slowly embracing Indian markets. The more it is being resisted
the more likely it will bounce back.
Opposing FDS would be more like the
left ideologists resisted computer vehemently when it had been
introduced in India accusing that it would create massive
unemployment but now they themselves are carrying laptops and using
personal computers. The political parties which are vigorously
opposing FDI are only on political stand and political ideologies
that the parties upholding otherwise I don't think they oppose it on
their personal ground.
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