This is the picture from the Big Bazaar website. The couple of times I went to Big Bazaar, I found lots of cheap products, tired and bored and ill-informed sales attendants. Not very different elsewhere, be it Westside, Lifestyle, Shoppers Stop, etc. etc.
I am amazed so many people are clamouring for FDI in multi-brand retail. Remember Indian economy is over 5000 years old with 90% of products made in India for Indian consumers. It is a robust ecosystem with whatever inequities and issues, but with many many known players in the chain. When I bring in a big honcho like Walmart, they will sell more Indian products for more Indian consumers at everyday low prices. SO WHAT?
What will change? Product? Most unlikely. Quality? Unlikely unless I pay a premium. And 5000 year-old wisdom= Indians don't pay a premium, unless it is for gold. Availability? Won't change much in most cities with already many mega malls-and do you think they will set up shop in small towns and villages? Be different from those kirana shops? Service? Same old bored+tired+Ill-informed sales staff. The fact that a BIG BRAND like Walmart shines in neon in front of the store? I don't care. The fact that all the profits will go to some honcho in US or Europe? I don't think we need to be thrilled about it.
What has changed since Rajasthani princes sold their soul to marauding Moslem invaders? Poornayya sold his king to East India Company? We encouraged all young men and women to go and work the grind abroad for a better life? We killed Indian products for Chinese plugs, pencils and nylon sarees? Why do we think we cannot have home-grown excellence?
By saying that FDI in multi brand retail is a must, we are saying that India lacks businessmen with money, or consumer insight or management capability. When we produce thousands of talented managers who are lapped up at huge salaries abroad. And when for every rupee tracked by the system, there are two rupees tucked away in a black corner somewhere. When we have Tatas, Birlas, Mittals, and Ambanis to show off for their money-making acumen.
I wish someone with the credibility and reach and commitment of a Maruti moves into large scale distribution in retail. But then, they face their own problems.
Come on. From Marco Polo to Manchester businessmen, everyone knows that India can manage its retail by itself. No need for FDI. Thank you.
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