Author: Rajiv Krish*
Mr. A: “I hate creepers; it destroyed my wonderful mural wall painting, a costly one, last monsoon”
Mr. B: “But, what you destroyed yesterday were money plants and no ordinary creepers”.
Mr. “A: “Ooh! really…? I did not know, nor did I realize; it was just my natural reaction to the economic drain I suffered last monsoon.”
Mr. B: “Agree! But you should skip your notions and think real…”
India’s dislike towards foreign investment has its root from the wealth loot during the pre-independence period during the rule of the Crown. Wealth drain was the predominant strategy of the British rule, accomplished easily without any resistance. The rulers of the small provinces also had little options than to be a mute accomplice. Once water is drained out, it is lost. It can never quench the thirst, nor does it vapourize up to the blue spread. If the drained water falls on a money plant, it will solicit prosperity; else it will instill the growth of creepers. Good or bad, it will do its job.
Mr. A: “… was it a money plant?, really…?“
India is a Socialist Republic but has a mixed economy – of capitalists and of socialists – The 42nd amendment to the Constitution Part VI declares that the thrust is towards the welfare of the common man. Our people and politicians strive hard to maintain this status of being socialistic… Equality is the basis of all actions – capitalists always remain capitalists and socialists as socialists, in other words, poor always remain poor and rich always grows richer… kind of – ‘equality unto perenniality…’. If poor becomes rich, then wouldn’t it be a violation of the Constitution? When globalization wide opened the windows of Indian trade for foreigners, the intention was nothing but capitalism, Government-promoted capitalism.
Whether Walmart invests or Aditya Birla invests, the result is that one portion of the profit will go to the Government as taxes and the other portion, in to the hands of the capitalists, the businessmen, who are the shareholders/owners. Not even a penny will benefit the “aam aadmi” (common man). So, why should we be concerned over multi-brand retailing in India? From an economic perspective I see only growth. The aam aadmi has nothing to do at the Walmarts and those who expect valet parking will never visit the departmental stores. At Walmarts, since the price is very high, Government can expect more revenue for the benefit of aam aadmi. Walmarts are not going to import workforce, people in our vicinity will benefit employment. So, more tax – more revenue – more employment – more funds (tax revenue) – better infrastructure – why should we oppose to ‘this as well’? Isn’t it a good economic (I mean economic) decision?
Should we carry forward the melancholy of the past or run with the world to soar mightier targets?
*Rajiv Krish is a Director at M/s WAUM Team Pvt. Ltd. To know more about the services of WAUM Team please visit the refurbished website of WAUM Team @ www.waum.in