One of the many occasions when one quintessential Kolkata Tram collides with another. One of the main modes of transport in the city, and this is a common sight. Had the fortune of being inside one of them when this happened.
The long standing debate of FDI in retail has finally seen a palpable policy change. The Government of India now allows for single-brand and multi-brand retail companies to invest 100% and 51% respectively through FDIs. However, besides getting a positive nod from the apex court there has been resistance politically as well as from the local retail community.
The latter’s largest concern stems from the potential loss of business and the inability to compete with large organised retail brands. An understandable concern, although data from other countries with FDI in retail should help calm some nerves (Read). According to me, not only would this make the local retailers more competitive and organised in their business practices, it will most definitely uphold the virtue of “Customer is King/Queen”, simply put consumers would have a wider range to choose from. Continue reading