These scare tactics are beyond my comprehension. We are worried that entry of Walmart would affect small retailers half way across the world Americans are scared that Indians would take away all their jobs. How much truth there is behind these claims is difficult to quantify. But I believe that globalization can do a lot of good to everybody. Imagine what life would have been had we been still driving Fiat padmini or only MTNL phone lines. The point is that globalization helps competition to thrive and end users are the ultimate beneficiaries.
Besides, Reliance retail has pledged to make its retail stores a low cost destination and if Walmart does not follow that lead, they would have to pack and go.
For the last 50 years the government has done a lot of damage to the economy in the name of protection. Now we realize that socialism was not the best of the choices.
Let Wal Mart come and see how people adapt themselves to the new environment and I believe retail stores would find a way around this threat. By consolidation........perhaps......
