FDI REBUTTAL

Bikash Choudhury

               Apropos “A Strong Walmart Week” by eminent jurist Sri Ram Jethmalani who has earned his reputation for his no holds barred articulation of his choice and for being an amusing and at times very entertaining ‘Devils Advocate’ apart from being an unparallel legal mind on criminal jurisprudence in this country. However, Ram has erred this time on his judgment to please the gallery for a change as his arguments lack conviction and neither could stand the scrutiny of law in the court nor in the court of people. I guess, BJP and Ram have found their “Kalidash” moments. My first question would be; if the FDI in Retail would be the first and last money laundering operation in the country that the author knows? All other transaction happening in the country in the central Govt. and in the State Govt. ruled by BJP is all above board? Can BJP disclose the source of all funds (Rs.554 crore) received? The second thing is that the author (Ram) has confused himself with Walmart and FDI in Retail; as the Leader of Opposition in both the houses; for the record, Walmart may be one of the largest retailers in this World but, FDI Retail Policy stands for all Retailers all across the World who  has interest in India. Walmart must be thanking its luck for all the free publicity that the company received, courtesy the author and the BJP in Parliament and even outside. The authors concern about predatory pricing is far from truth in this globalised and web driven and knowledge powered world where predatory pricing could scare away both the suppliers and customers. By the way, I would like to ask the author which car he drives in to his chambers. In a black or white Ambassador of 1970 vintage? In spite of all the Global players in the passenger car business in India; how the indigenous car makers like TATA Motors and Mahindra are doing a flourishing business? The fact of the matter is if you are convinced about your end goal; you can argue the case in either ways also and more so for the lawyers and law makers as they are trained and paid to do the job. Therefore, the arguments proffered by the author are all politically motivated and not with economic rational. I agree that FDI in retail is no panacea for all the ills in our Agriculture or Agri and Agro supply chain; but, it certainly would bring an incremental change in highly inefficient and politically loaded Agriculture and Retail sector in the country by the advent of competition. Some one has said before “competition brings in the best in the people and organizations also” A controlled simulation study would have proved beyond reasonable doubt that in fact, attracting FDI is not all that bad even in sensitive retail sector as the author argues so passionately. At the end, I would like to say BJP is actually cutting its own leg (Kalidasha moment) by following a negative agenda; while, all available indication were that it may do well in the next general election. And, in contrast INC led UPA II Govt., we have to concede, following a bold and a very positive agenda to retain power the third time in a row.

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