Clicks over Bricks in India
The Indian government's announcement this month that it will open the country’s retail market to foreign players has provoked intense opposition from small shopkeepers. But the debate misses a crucial point: all brick-and-mortar retailers are under threat, as consumers gain access to virtually unlimited options online.
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SINGAPORE – After years of debate, India’s government recently announced that will open the country’s retail sector to foreign investment. The move was met with howls of protest from those who argue that the entry of large hypermarket chains like Carrefour and Walmart will devastate the small shops that currently dominate India’s retail sector. A country-wide strike called by opposition parties on September 20 brought many cities and towns to a halt. So far, Prime Minister Manmohan Singh’s government has not relented, despite the loss of support from a key coalition ally.