Indians can vie with Wal-Marts: Swraj Paul

Indian retailers are capable of working in a competitive environment and global retail giants coming to the country will only spur them to do better, NRI industrialist Lord Swraj Paul said today.

"Indians are capable of working very well in a competitive market. There is Wal-Mart in the US, there is Wal-Mart in the UK. There is Tesco too in these countries. Indians have set up retail shops there and have beaten them," Lord Paul said.

Stressing that the government should concentrate on health, law and education and leave the business alone to fend for itself, Lord Paul welcomed competition for the Indian business community.

"We can compete with the best. The reason why IT industry has progressed so well is because they did not need the government nor did they know how to control them. So, I have no problem with Wal-Marts or Tesco or anybody. Let's believe in ourselves." Quelling apprehensions about the possible danger to traditional, small time domestic retailers due to the entry of MNCs, Lord Paul said.