Government may unveil mega reform steps

It is quite disturbing to note that a few politicians and bureaucrats under the influence of constant lobbying by multinational retail giants and American/ European governments are bent upon disturbing the largely peaceful atmosphere in retailing in India. The reforms already unveiled so far have facilitated the corporate world to loot India with the support of corrupt politicians and bureaucrats . The common man has not anything benefited anything when the country has the highest growth story. Already in the name of reforms, the natural resources of the country, namely coal blocks, oil and gas blocks, iron ore mines, granite blocks, sand deposits, copper mines, spectrum, etc have be garnered by the crony capitalists with the connivance of corrupt politicians and bureaucrats. Conservative estimates show that the value of such resources looted comes around Rs. 20 lakh crores; a grater part of it is stashed away in foreign banks as black money, especially in Swiss Banks. It is incomprehensible to not that despite opposition from all quarters, the government is bent upon allowing foreign giants to set up multi-brand retail stores This commentator has made a detailed study of the pros and corns of FDI in multi-brand retail trade. The study has revealed that FDI in multi-brand retail trade will not bring any benefit to the people of the country; instead it will destroy the only source of employment and livelihood of a large section of the people. The findings of the study are are being published in the form of book entitled, " FDI in Multi-brand Retail Trade in India: a Retrograde Step," by M/s RAC Publications, No.38, Gill Nagar Third Street, Chennai-600094. The study concludes as follows: " Evidences from various parts of the world indicate that widespread emergence of big format retail super stores have lead to extensive ruin of retail stores/shops thereby resulting in the loss of employment and livelihood to millions of persons involved in retail trade. Research findings have exposed that large scale unemployment has proved to be a social dynamite. That is, increase in unemployment leads to a series of social problems, like rise in poverty, alcoholism, domestic violence, indebtedness, suicides and crime in general, leading to a chaotic situation in the society. In sum, the inescapable conclusion is that any disruption of the prevailing system of retail trading will affect all sections of Indian society. FDI in retail trade will not serve any purpose. It will do more harm than benefit the people, especially to the unorganised/informal retail sector, which is a vital source of occupation and livelihood for the multitude unemployed people of the country, besides being the cushion for those who are displaced from their occupations/employment for various reasons.
Dr.C.Murukadas, The Times of India, Sep.13, 2012.