Walmart probe

“But even if they (charges of corruption and bribery) are found true, that would be no reason to block FDI in multi-brand retail. FDI in retail must be allowed not because Walmart or some other foreign retail chain wants it, but because it is in the interests of India's consumers and farmers.” The above view of Times is not only unfortunate and brazen but also reprehensible. It reminds me of an old adage, “Now, it has come to light ….the bridegroom is a burglar and a murderer; but the marriage to be solemnized as all arrangements are over; everybody has come; said so, the mediator.”  Everybody, including Dr.Manmohan Singh and the so called votaries of FDI in mutli-brand retail trade,   knows that “FDI in retail trade will not serve any purpose. It will do more harm than benefit the people.” In fact, in 2002, as leader of the opposition in Rajya Sabha, Dr.Singh fought tooth and nail against the introduction of FDI in retail. His colleague Mr. Priya Ranjan Munshi castigating the BJP, which was in power then and who tried to bring FDI in retail, said “it is anti-national to bring FDI in retail.”  Now, Dr. Singh says that FDI in retail is pro- national and is to be welcomed, irrespective of merits or demerits. What is cause for the somersault by Dr.Singh and the Congress party? Is it not an open secret that they have fallen prey to the powerful lobbying by Walmart and other multinational retail giants and the pressure exerted by their home governments? Does it not mean that erroneous factors and extraneous considerations have played foremost roles? Now the retail giant Walmart having disclosed that it is investigating alleged violations of the US anti-bribery law in India, China and Brazil, who are the beneficiaries of the kickbacks (bribery)?  These aspects have to be investigated and the culprits have to be severely punished. As far as your view that FDI  in retail must be allowed in the interests of India's consumers and farmers. It is   nothing but a deceptive propaganda, which is not supported by facts. This commentator has done extensive research on the pros and cons of FDI in retail trade in India. The results have been published in the form of a book entitled, “FDI in Retail Trade in India: a Retrograde Step” by M/s RAC Publications, No. 38 (Old No. 76-A) Choolaimedu, Chennai-60094. The study concludes as followers: “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.… FDI in retail trade will not serve any purpose. It will do more harm than benefit the people.”The general perception is that the government has resorted to the recent measures with a view to divert attention of the public  from various scams, sandals, frauds and other such shadow activities perpetuated during the past few years.

Dr. C.Murukadas, The Times of India, Nov. 17, 2012