Apropos US President Barack Obama’s foreign direct investment (FDI) remarks, opening up the retail sector to FDI will boost the country’s economic growth. It is good news that India’s overall retail sector will become a $450-billion industry by 2015. Indeed, retail chains will eliminate middlemen at various levels in the chain. This will not only help farmers, but also consumers since retailers pass the savings (earned from direct procurement) on to customers by selling quality products at attractive prices. So, their main focus is customer satisfaction.
In this era of globalisation, retail entry should be welcomed and any attempt to disrupt retail operations should be seen as a law and order issue.
Traders and shopkeepers who are protesting against retail FDI should focus on customer-centric services. Let them compete on this important indicator – customer satisfaction – and let there be a healthy competition. Protectionism is no answer to keeping local jobs and saving the domestic market. The international mood favours removing of all economic barriers for a free and fair trade across the globe.
P Senthil Saravana Durai Hyderabad
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