One of the most current and burning topics of discussion these days is the entry of giant foreign retail players such as WALMART,TESCO…into the Indian market. The Indian RETAIL INDUSTRY has been hailed as one of the sunrise sectors for the economy. There is no doubt that the entry of giant foreign retailers would disrupt the growth of Indian retailers. Now let us consider the pros and cons related to their entry.
WALMART, one of America’s largest retail stores is set to try its luck in the Indian retail market. The matter of discussion over here is whether the entry of WALMAT, as BHARTI WALMART in India would be a boon or a bane for the poor Indian farmers and other people directly or indirectly related to it. Well, introduction of foreign players into Indian market will no doubt contribute in improving the employment rate in India. New jobs will be created for the young unemployed youths. The farmers will also benifit. They will be provided high price for their produce, since the introduction of retail stores would eliminate the brokers or middlemen engaged in between the farmers and the distribution market. Indian farmers would be encouraged to implement new technologies and fertilizers which will help them produce crops of good quality and also protect the crops from getting damaged. Also with the elimination of middlemen, the products would be sold in the market at a comparatively low price. This will help in curbing the soaring inflation, at least to some extent. This would be of a great relief to the common man.
Besides its positive side, introduction of International Retail stores have some negative signs as well. Many argue that the promises of a better and happier life done to poor Indian farmers by the international retailers and of course our INDIAN GOVERMENT are all FAKE. It would hardly benefit the farmers. They would suffer in the long run. Their land, their only source of income will be occupied. They will not be given right price for their produce. Elimination of middlemen from the scene will no doubt provide us with low price products, but ever thought what will happen to them. They will have to enrol their names in the unemployment list. They will use our resources, our labour, our water, our electricity for their own benefit and profit. Indian culture will be grasped by the western culture. New eye candy products will be displayed in the stores with attractive packaging. Eating habits and clothing will change. Prices will soar, as quality demands price. Inequality of income will create huge space between the poor and the rich. Rich will become richer and the poor, poorer.
Thus the Government must consider the various pros and cons related to the entry of foreign players into the Indian market, and then come to a firm decision taking into consideration the FATE of poor Indian farmers and the COUNTRY as a whole.