Tuesday, November 29, 2011

Malls vs Walmart vs SEZ and $300b Indian Foreign Investments

Malls vs Walmart vs SEZ and $300b Indian Foreign Investments

Nation of 1.2b is shamed in the world when 545 MPs display immaturity, foolishness and indiscipline – today not just few foreign missions but whole world watches us.

Around 2006 at an India Japan event Indian companies invited Japan to invest in Malls also among other sectors – they laughed and told us – we know your Malls selling same products in big costly buildings is not opening up of retail sector.

1. It is laughable none of 545 MPs in India objected to mushrooming growth of Malls and big multistory showrooms across India – 80% of them for retailing multinational products at MSP in most cases. Malls near Saket built on 50 acres are worth Rs.20,000 crores – Malls don’t even serve 95% of Indians and India has thousands of such malls across that don’t store perishable foods – actually I didn’t see any Kiryana or Fruits also didn’t I see any Pav Bhaji or Chhole Bature & Vegetable shops but there are all kinds Pizza and Baristas Coffee shops.

2. It is also laughable when 600 SEZs were approved and Ambani alone acquired 34,000 hectares of prime land for SEZs next to Mumbai and Delhi – it was only when farmers across India revolted against acquisition of their ancestral land cheaply – there was Mild Opposition by 545 MPs.

3. It is also laughable when farmers in Punjab get Rs.2.5/kg but fresh produce is retailed in Delhi for Rs.20/- kg. There is never any opposition by 545 MPs.

4. It is also laughable one million Traders are advanced more Bank Credit than all 800 million farmers put together. Bank credit to traders is Rs.3,00,000 crores but there is bare minimum cold storage facility & transport – 30% of our fruits and vegetables are lost in handling and transportation.

5. It is laughable but for most products made by mainly multinationals are retailed in shops – all fruits and vegetables are retailed on Pavements or street vendors in cities – this is no concern to 545 MPs. Most retailers in small towns operate from residential properties illegally.

6. It is laughable when none of 545 MPs objects to Corporate India invests $300b legally in foreign countries equal to 20% of GDP much more through Hawala and acquire 100% share in companies but there are restrictions - WalMart is forced to marry Sunil Mittal to do business in India?

7. It is laughable all the labor and vendors are daily wagers with no job security.

8. It is laughable when states don’t bother to enforce Quality Control for products made in India and imports to facilitate ‘Unaccounted Sale’ and purchase of substandard products.

R Singh

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