FDI will await consensus Finally the Finance Minister has admitted that FDI in retail can never be implemented without the consent of the stakeholders, viz. political parties and states. Apart from that there are many valid reasons for withholding, rather withdrawing, the decision to allow FDI in retail trade. India is one of the top five retail markets in the world by economic value and employment. Today, retail trade or retailing is the single largest constituent of the services sector. It contributes about 15 percent to gross domestic product (GDP). The total sales turnover of the retail sector is about Rs. 12.5 lakh crores (US$ 250 billion) in 2011; out of this, only about 4.5 percent is contributed by organised retail sector, and the rest (95.5 %) by unorganised retail sector. The sector provided over Rs 80,000 crore as compensation to its employees, who often include family members of owners. Estimates about the total persons employed in retail trade are scanty and conjectural. However, recent survey reports show a tremendous growth in the proportion and number of self-employed persons, particularly in trade. According to a recent report (October 2010) by Labour Bureau out the total work force 384 million, 34 million (8.85 percent) constituted wholesale and retail traders. If self-employed category alone is taken into consideration, more than one-fifth (20.11%) is employed in wholesale and retail trade. In the urban sector 473 persons employed for every 1000 persons (47.3 %); out of this, a maximum 173 persons (36.5%) are employed in the wholesale & retail trade group followed by 154 persons (32.4 percent) in the manufacturing and 146 (30.1%) in the community services group. Thus, the wholesale and retail trade sector dominates urban employment, whereas in rural areas agriculture and allied activities predominate over other categories of employment. But in rural areas also trade category has a dominant presence in the employment front. As per the recent report of National Sample Survey Organization (NSSO) about 38 million persons are employed in the trade sector; of which, 31.16 million (82.01% ) are employed in retail trade, 4.78 million (13.10%) in wholesale trade and the rest (2.06 million) in auto sales, repair and maintenance. According to another estimate currently around 40 million persons are employed in retailing, wholesale and retail put together. Out of this, unorganised retail trade provides employment to about 39 million persons (97 %), whereas the organised sector provides jobs to around one million persons (3%). Studies show that Indian retail trade is one of the most vibrant sectors of the Indian economy and it is growing fastly at more than 20 percent per year. The retail sector besides providing, employment opportunities to millions of persons, often acts as a shock absorber for those who are thrown out of employment for various reasons. Retail shops exist everywhere, all over the country, in every nook and corner in the cities and even in remote villages. The local tea stalls, particularly in rural areas, serve as meeting points for the people, especially political cadres and social workers. Moreover, the local provision and grocery owners have personal contact with the people of the area, and at times of emergency, they lend a helping hand to the people in distress. Moreover, in the Indian retail trading system, majority of consumers buys essentials from neighbourhood stores on credit and pay bills on monthly or weekly basis. Such consumers will suffer with the disruption of the traditional system of retail stores. Thus, at this stage, any disruption of the prevailing system of retail trading will affect all sections of society, including the politicians.  Dr. C.Murukadas, The Hindu, December 8, 2011