Retail Trade

 

Sravanthi Challapalli Vinay Kamath

"RETAILING is no rocket science, we don't need foreigners to teach us." Ms Simone Tata, Chairperson, Trent Ltd, is quite indignant about the prospect of foreign direct investment (FDI) in Indian retailing. "It is not in the interests of India, so why do we need it?" she questions.

Govind Shrikhande CEO, Shoppers Stop

S. Gurumurthy, all India joint convener, Swadeshi Jagaran Manch, has issued the following statement:

The United Progressive Alliance government’s proposed policy on foreign direct investment (FDI), which seeks to allow the backdoor entry of multinational giants like Wal-Mart into the retail sector in India, gravely prejudices national economic and social interests.

Now, some 210 million Americans use about 1.2 billion credit and retail cards, that is, some six cards for every individual. Effect: consumption debt, most of it on credit cards, has risen steeply. The Americans think of their own lifetimes whereas the Asians think of the next generation and, hence, save for the future, says S. GURUMURTHY