Anand Sharma: Decision on FDI taken by consensus

The claim Mr. Anand Sharma  that the  decision on  FDI in multi-brand  retail trade  was taken based on consensus. It is a naked truth that he miserably failed to build a consensus on the issue. Consensus means that an overwhelming majority agree to a particular idea or measure. In the case of FDI, only a small section has expressed agreement with the decision, that too under persuasion and threat.  FDI in multi-brand retail trade has been notified much against the sentiments and wishes of almost the entire spectrum of political parties, trading community, farming society, and, of course, an overwhelming majority of the citizen of the country. Mrs. Mamata Banerjee, West Bengal Chief Minister, has alleged that the FDI decision was unveiled only to divert attention from the “coalgate” scandal involving the government. Moreover, many experts have questioned the perceived benefits of the so called “reforms,” particularly 51 percent FDI in multi-brand retail trade. The general consensus is that no point in pressing for a change in policy measures (or conveniently termed as reform) that evokes strong condemnation and disapproval from all sections--political parties, traders’ bodies, farmers’ associations, experts and the public in general. Moreover, everybody knows that the  decision to allow FDI in mult-ibrand  retail trade was taken  due to powerful lobbying by Walmart and other multinational retail giants and pressure from their home governments, particularly the US and European Union.  Reports show that extraneous considerations have played a dominant place for taking the erroneous decision to allow 51% FDI in multi-brand retail trade despite strong opposition from all quarters.

Dr. C.Murukadas,  The Economic Times, Oct. 7, 2012.