After claiming to be the first state to open its doors to FDI in multi-brand retail, the Delhi government is now preparing to rollout the red carpet for the multi-national companies in the national capital. Putting an end to rife speculation about the FDI move making the small retailers redundant, many prominent traders’ associations said that it will only bring opportunities and money to the country.
“The history of Indian market is far more older than the multi-national companies. It is in the veins of Indians. The multinational companies will bring opportunities, jobs and money. The Indian farmers will be on the top of the chain once FDI starts in Indian market,” said Rajender Sharma, general secretary, Azadpur Mandi, the largest vegetable market in north India.
He also explained that the government can not scrap the role of middleman even after the FDI.
“The role of a middleman is important in the market as he is the one who arranges best buyers, none of the multinational companies can scrap the role of these people,” he said.
He claimed that in country where a child takes birth in every second, 100 multinational companies cannot feed the population.
“We are in this business from a long time and we are still not able to fulfil the need of people. How can the multinational companies will overtake our business? These companies will only target the upper class and upper middle-class,” he added.
Traders from Delhi’s most favourite Sarojini Nagar market also played down the “bad effects” of FDI on the Indian traders.
“If foreign companies will invest in our markets they will bring competition and customers will get the benefit. The commodities might get cheaper and the customer will get a variety of products. Foreigners will sell their goods in Indian market and they will make a way to sell Indian goods in foreign markets,” said Ashok Randhawa, president, Sarojini Nagar mini market association.