FDI in retail might increase the overall national income but the key question here is "will FDI in retail help the common man of our country". Lets see..
It will certainly create lots of new jobs both directly and indirectly in related sectors like logistics, farms etc
. And as far as local unorganized retail stores are concerned, there can be some problems for them but they will continue to grow as the target customer of both are different. It will certainly provide a stiff competition to organized retailers like "future group" as they have same customer group, but as
@saurav4489 has explained it won't be much of a problem.
Secondly, if it is ensured by our government that majority of goods and manufactured products are procured from our country, it will boost our manufacturing and agriculture sector. Agriculture sector which employs 50% of the work force yet contributes considerably poorly in country's GDP. FDI in detail will avoid the middleman and the farmers will be able to get there share and get rid of the old vicious cycle.
One third of the total food supply of the country rots due to inefficient supply chains, such problems will be easily eradicated by strong infrastructure and well managed service offered by foreign supply chains.
So I believe FDI in retail with adequate safeguards will act as a bane for our economy and for the common man too.
Normalization is a eyewash..
.. boosted me up.. really.
. Senior members, Do I stand a chance with such acads!!