Is it Right to give Walmart a place in the Indian Retail Market? Right now this question fires up in Indian Retail Industry. Flipkart Board approves approximately 15 Billion dollar deal with Walmart. Now, Walmart will buy 73% shares of Flipkart. Walmart which is the World’s Largest Retail company whereas Flipkart is one of the largest e-commerce company in India. Moreover, because of this deal, there is a fear among the small & medium traders.
Read What officials of Chamber of Trade & Industry say?
CTI says FDI is not fully approved in the retail market of India. This is why Walmart try to enter in Indian Retail market through the e-commerce company. Officials from CTI says this matter relates to the basic need of small & medium traders of our country. The agreement between Flipkart & Walmart is not a concern of small & medium traders but it is a concern for government also. History says the country in which Walmart enters it completely broke the local retailers. Entering Walmart in our country punch a negative impact on the economy of our country.
Presently, India’s retail market value is about Rs 40 Lakh Crore. This is the reason why Walmart eyes have been on India for years. Just assume What will happen to the Small & Medium Traders of India. A large amount of population of our country earns from the retail market.
One more thing about Walmart is most of the goods they sell will also import from China. In this way, we also promote the Chinese Products.
Is it Right to give Walmart a place in the Indian retail market? Our Opinion
In our opinion, Government must cancel the ticket of Walmart to India. Government have the power to do so. Think about it, Presently, unemployment is a serious issue in our country. Moreover, In this situation, we give some American multinational retail corporation ticket to India. Taking into consideration that a large population of our country earns from Retail Market. This will must drastically deflect our country’s economy. We say cancel the Walmart ticket to India.