Bharti Wal-mart’s Wholesale Cash and Carry Format chain – BestPrice Modern Wholesale is all set to go live for business in Amritsar from next week. Call it a coincidence of the Congress led government in Delhi that was always for pushing FDI reforms in Retail or it could be a routine business activity.
Arun Mowar, spokesman for the JV said – It will be opened early next week.
The opening of this store will be seen as a positive move in the International retail sector which will make the Western retailers think harder to enter the nascent Indian market.
Nilotpal Basu, a senior Communist leader said,
We knew this would come, specially after the election victory. The retail sector generates the second highest employment after agriculture, and if they go ahead with such plans (foreign investment) there will be repercussions. We will oppose any such move.
What the Communist leaders fail to understand is the organization of the sector will help generate far greater employment and taxes to the Government. Hopefully, our Policymakers are smart enough to strike a balance to keep the Peasants in job and still get the Retail POS systems buzzing 🙂