The Secretary of Statesaid today, against criteria of local experts, which opened India to foreign direct investment in the retail sector will raise the standard of living in this country. Against the grain of national experts from a wide range of political parties, and especially of millions of Indians in this sector get bread every day, Clinton advised the country open to FDI, as they are called for short, especially in multi-brand stores.
"I come with the firm belief that India can compete with anybody, anywhere. And the more open India (FDI) greater increase in living standards and opportunities for people, "he said to an audience with little enthusiasm. His speech was to stage the La Martiniere School for Girls in Kolkata, capital of West Bengal and the third most populous city with 14 million inhabitants. from Bangladesh, the head of U.S. diplomacy initiated by the former Calcutta a three-day official visit to India during which coordinate the agenda of the third round of strategic dialogue between the two countries, scheduled for June 13 in Washington.
Although arguably the issue of FDI figure among the top of the forum, Clinton has spared no effort to promote them. By exposing the U.S. interest to penetrate the retail market multi-brand of the South Asian nation, claimed as the main reason for the huge India's experience in supplier-producer relationships. For the girls, probably more intelligible passage of his speech was when he set the example of the benefits of FDI in West Bengal the actions of the factory Fritolay and deli division of Pepsico.
"There are plenty of benefits that can not be seen immediately," he said. Assuming understood the subject, and its ability to expose, he said: "But I also understand politics and I know that many of these decisions are hard." This is one: in December last year, the government ofrecently tried to pass a law favorable to FDI, but the opposition and even some of its allies have put the brakes on the grounds that would be detrimental to small and medium businesses nationals.
One purpose of Clinton in Kolkata was precisely to overcome the resistance of, the head of government in West Bengal, under the assumption that has not been properly informed on the subject. Although the interview between the two just transcended details , we can assume that the high U.S. official did not repeat the argument and deli Fritolay Pepsico. In late 2011, most political parties represented in the Lok Sabha (lower house of the legislature) estimated that the entry of multinationals distribution to national retail network would be ruinous for millions of farmers and small traders.
It is estimated that the South Asian nation more than 12 million "kiranas" (small traditional shops) that give sustenance to double or triple the people. For years, transnational corporations like Wal-Mart and France's Carrefour are waiting for you open the door to a lucrative market estimated 470 billion dollars a year.
Several global giants of the distribution are already present as wholesalers in this country of 210 million billion, but current laws only allow them to sell retail in partnership with local companies. In November last year, the mere announcement of the initiative unleashed a wave of street protests among the owners small business and between parties like the Bharatiya Janata Party (center-right main opposition), Communist of India (Marxist) and even some who make up the ruling United Progressive Alliance. Perhaps Hillary Clinton's dissertation makes them change your mind.