ASB students express views on FDI multi-brand retail
Powerful and articulate stances for and against Foreign Direct Investment (FDI) in multi-brand retail emerged as student representatives of Asian School of Business (ASB) and Kansas University School of Business (KU), USA made their presentations here.
At a seminar on 'FDI in Multi-brand Retail in Kerala' organised by ASB, management students took over to dwell and debate upon the wider implications of FDI, even as Kerala Government has unequivocally opposed its introduction in the state. Mr Vishnu K Nair, first year student of PGDM at ASB drew out the salient points of the Indian and Kerala economy with special reference to the retail sector.
"India ranks among the top 30 developing countries for retail expansion worldwide; the country is placed fifth in the Global Retail Development Index. Kerala is heavily dependent on local 'Kirana' stores; they are the active providers of consumer needs," he said.
Presenting her case in favour of FDI, Ms Meg Reesing, student of Bachelor of Arts in Global and International Studies at KU, said consumers can access greater variety of products at lower price, farmers can sell directly to retailers besides increasing convenience and shopping experience.
FDI will also create new employment opportunities to the tune of 10 million in next three years, she added.
Ms Amy Van, student of Bachelor of Science, Accounting and Finance, KU, countered by putting forth disadvantages of FDI.
'FDI will lead to large-scale job loss, replace small retailers and lead to the creation of monopolistic and oligopolistic markets,' she said.