SJM opposes FDI in retail trade
Swadeshi Jagaran Manch (SJM) has termed the proposal to enforce FDI in retail trade as an attempt to deliberately distort the delicate organic nature of trade and to impose foreign monopolistic power to exploit the market and large sections of the society. ?Market is one of the most important economic assets of the nation, where goods are sold and bought to generate surplus for further investment to achieve economic growth and social progress. Therefore, the nation should exercise extreme caution in monitoring and managing the market. This is especially true with the retail trade, because here the market impacts the whole society either as a producer, or as a supplier or as a buyer. Retail trade reflects the social structure of the country and should be managed to cater to the economic needs of the society. In fact, the market in all countries is an evolved institution reflecting the socio economic gradation of the country; this is especially true in India,? the SJM said in a press statement issued in New Delhi.
It is an attempt to deliberately distort the delicate organic nature of trade and to impose foreign monopolistic power to exploit the market and large sections of the society.
About the argument that it would be the consumer who would ultimately be benefited after the FDI, the SJM said there was no evidence in the country or elsewhere in the world that the consumer was permanent beneficiary of lower prices. ?In fact investigations in the UK have established that the general public pays higher prices because of the cartel action of the large retailers. In our country too, no consumer item is sold by organised retailers cheaper than the prevailing one in the unorganised sector,? revealed the statement.