A long pending decision has been finally decided. The UPA Government has accepted 51% FDI in multi-brand retail, aviation, broadcasting and power exchange. The Government has made a clause that Multi-brand retail stores can be opened only in those states that have agreed or will agree in the future to allow FDI in multi-brand retail under this policy. It implies that no FDI in retail will be allowed in any state unless the state agrees to the policy.However, their allies Trinomol Congress leader Mamta Banerjee has opposed to it strongly. Will FDI multi-brand retail, aviation, broadcasting and power exchange really be beneficial for Indian Economy? What do you think?
FDI in the retail sector, aviation, broadcasting and power exchange can never prove to be beneficial for Indian Economy, especially FDI in retail. It will adversely affect the economy of the country leading to major economic issues. It is sad that even after protest from the allies as well as opposition, Government has not taken back their decision. Such flawed decision on the part of the Government is creating a major hindrance in economic growth of the nation.
FDI in the retail sector, aviation, broadcasting and power exchange has been finally allowed in India. With the introduction of FDI, there will be some major economic development in India. However, I am not in favour of FDI because its disadvantages are more than its advantages. The problem of unemployment will further grow as many small businesses will be closed. This is not a very wise decision taken by the Government.
Government's approval of FDI in various sectors will have long-term effect on Indian economy which will not be a very good one. Government approved FDI looking at the short-term benefits of it. It will definitely help in economic growth of the nation but the long-term effect of FDI will be dangerous for the country. I am not in favour of Government approving FDI especially in the retail sector.
