Why anyone should bother about FDI in retail
(It is not 1757. Indian retailers are now smart enough to look after themselves)
Ours is middle class economy based on urban &rural middle class, who are experts in managing their purse. Due to over heads, dependence on vendors & greed for profit, big foreign retailers will not sale their commodities below MRP or below local market price. Our experience so far of big retailers is that they are not able to eliminate middleman & to give better price to producer . Long queues at billing counters will be a big factor to drive away sizable number of middle class house wives &gentlemen who are short of time & patience.
On the other hand the local retailers will be forced to compete & will make available at door step, commodities of equivalent quality at a lesser price
This is not just speculation, we have experienced it at Gurgaon. Inspite of opening of large number of world class Malls & retail outlets , there is no affect on the local markets. Instead the local retailers have increased their turnover.S.C.Maheshwari
Pl. Visit : www.bharatpensioner.org