I came across this article posted by the Indiaretailbiz.com site and had to comment on the seriousness of the situation.
I can’t help but wonder how foreign retail investors view matters such as these. I understand there were protests and vandalism, but by caving into these tactics only encourages the use of them. If I were a foreign retailer, I would be hesitant to move into India until a firm policy is in place to handle these matters better.
“I have constituted a high-level committee to review the whole affair and until the committee gives a green signal, Reliance ‘Fresh’ stores will remain shut,” said Chief Minister Mayawati.
It reminds me of an occasion when a high profile foreign bar and restaurant grand opening was closed in Mumbai because a small bar in the area violated the do not serve alcohol after 11pm rule in effect at the time. The New high profile bar and restaurant had flown in important dignitaries and Hollywood stars to the opening, but were completely shut down because a small local bar violated a rule. Anyway, I digress.
Mayawati should immediately reopen the stores and stop playing games in order to appease one local group.
Addressing a Press conference in Lucknow on Thursday, Kanchal a member of Rajya Sabha, said that his organisation was opposed to all large retail chains, not just those of any particular group. “Our agitation against the big retail companies would continue till they wound up their business from the state,” Kanchal added.
Their isolationist remarks sound like the Taliban or some other fringe isolationist group albeit not calling for heads but calling for a ridiculous policy of hiding one’s head in one’s sand. It harms the country and does not help India’s image as the world’s largest democracy.
I leave you with a sensible man who said; “The decision seems to have been taken in haste and therefore should be reviewed,” said Venugopal Dhoot, President, Assocham.
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