Government of India and specially the Prime Minister and Finance Minister are batting for increase of FDI in retail sector. It was only due to the strong opposition from the opposition parties even from some of the allies of the UPA government that they have been unable to pass the bill on increase of FDI.

Why opposition parties are against increased FDI. It will destroy the crores of small retail traders and their families if these MNCs like Wall-Mart are allowed to open their shops in India. The experience of Mexica has been explained by a write-up in the Business Line today, under the heading ‘A Mexican Warning on retail FDI’. It states that Wall-Mart has taken over nearly half of Mexico’s retail business with just over 2 lakh employees. In contrast Indian retail sector employes 4 crores. Where these 4 crores and their families will go. No other place but to unemployment.

Another issue is gross corruption. Wall-Mart grew only thorough bribery and corruption. Hence we have continue our opposition and defeat the government move to increase the FDI in retail sector.