India’s Deadlock Ended in Suspension

After a two-week long deadlock India’s parliament confirmed that it was suspending the decision to opening up for global supermarkets. The suspension is going to remain till a consensus is developed through consultation among various stakeholders which include chief ministers of states and all the political parties. This suspension brings joy for the opposition party and they are seeing this as their victory though the government is saying that this is temporary. The decision has been fiercely opposed in India. Critics are saying that if that takes place then it will destroy millions of jobs and businesses among smaller retailers while the supporters saying that it will widen consumer choice while reduce waste and improve security for farmers.

Analysts are saying that the decision is a blow to the government’s image because they announce the decision before evolves a consensus. Business leaders are also unhappy. The FICCI, India's federation of chambers of commerce and industry issued a statement saying that the suspension was deeply disappointing. The government had announced that India would allow 51% foreign ownership of multi-brand retail stores, allowing USA based groups like Wal-Mart & Tesco to open stores in India where at present, they can only sell wholesale in India, not directly to customers.

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