Thursday, September 27, 2012

Bitter Sweet Reforms | A Retail Foreign Direct Invasion in India ?

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        This is a comment in response to an article on the Times of India The original post,


" How Sonia Gandhi was persuaded to back reforms. Read here: http://toi.in/lnWreZ "




Image Ref. http://tinyurl.com/9wv47se

My response,
                 And now, this is what the first surgical incision looks like ;)
Many of us who have followed the situation with reforms and FDI's for several years are fully aware of who exactly in terms of foreign groups and financial entities have been steadily lobbying, bribing and laying down the pressure to enter into the Indian market space and greatly gain out of it. It is important to note that it won't be easy for local players to even come close to tackling, competing or coexisting with the new competition, it won't be easy either to curb foreign investments from serving as instruments for parasitic economics that will over a period of time, perhaps less than a decade, drain capital permanently away from this country.

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Update as of 7th December 2012

          A comment in response to a post seen on cnn ibn,


FDI now the law of the land, Opposition graceless in defeat: Anand Sharma http://ibnlive.in.com/news/fdi-now-the-law-of-the-land-oppn-graceless-in-defeat-anand-sharma/309386-37-64.html "



Find the original post here,


           

            Just give it 5-10 years; Parasitic economics and exploitation is nothing but an inevitable reality, it is the only tried and tested strategy that will make an entry with tapping into such a large, promising and unexplored market feasible and highly profitable. Over the last decade or so we have seen several examples of this across smaller markets and weaker economies in Europe. At an estimated $450 billion retail is large enough to guarantee a huge impact in India, especially for all those regional ethnic sub-economies that depend on it as a seasonal driver of growth and stability. I guess time will make it clear to all the naysayers that FDI stands for 'Foreign Direct Invasion' ( Represented by Agents of Economic Imperialism, Remember the East India Company? ) 

..as opposed to anything else.


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Update as of 9th December 2012

          A comment in response to a follow up on the story as seen on cnn ibn,


"Walmart spent Rs 125 crore on lobbying to enter India: Report http://ibnlive.in.com/news/walmart-spent-rs-125-crore-on-lobbying-to-enter-india-report/309563-7.html"




           Although it is safe not to know the Actual figures (vs. what can be disclosed), $25 million, even in relative terms to many Indians.. is still small change compared to the market space they hope to capture and dominate in the coming future. The big question concerns the impact it will have on 'All Things Local' when they employ their standards and practices out there. ( We've seen how well all the IBMs and Accenture's of the IT world have faired in India for a while now) Again, time will tell, but the interesting question that will remain unanswered and obscure is what exactly prevented them and made them take so long since 2008.  Sadly, I'm sure that for some time to come many of the affected and their families will have to dig deep to the very bottom of their hearts when they think of this large American Brand and those corrupt leaders, Both here and there, along with this rather cheap number, that makes all their miseries possible as their hardships come to life.


As a sincere and frank reminder, 

Dear friends (Concerned Citizens/ Journalists/ General Public), 

          Keep a close watch of this company's policies/ business practices, including discrimination, anti competitive practices, aggressive/predatory pricing, the corporation's foreign product sourcing, treatment of product suppliers, environmental practices, the use of public subsidies, low wages, poor working conditions, and the company's security policies. Do you know of retailers out there who would engage in product selection that promotes a new idealogy/agenda or even subtly inject a propaganda into the masses. Here's a fine example of all this and a lot more in Walmart. Unfortunately over the years there has not been enough unity or fair democratic values or an essential sense of equality in opportunity among average Americans here to even conjure up or imagine a boycott, but I'd like to believe that this Spirit is still strong in a place like India.

Best Regards.

Sincerely,
Jai Krishna Ponnappan





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