206th Meeting : 6th Jan 2013 : FDI in Indian Retail

The first meeting of the Newyear witnessed a huge response by our ever learning and enthusiastic members to the lecture of Mr.Sekhar Swamy of Mumbai on the much debated subject of Foreign Direct Investment in Indian Retail on 6th Jan 2013.At the outset the Convener reminded the gathering of the words of Pulitzer Prize Winner American Journalist Christopher Lynn Hedges who defined America as a Nation where Doctors destroy Health, Lawyers destroy Justice,Universities destroy Knowledge,Governments destroys Freedom,Religion destroys Moral and banks destroys economies” He then quoted the words of the Celebrated Author Mr.John Perkins from his book Confessions of an Economic Hitman when he said,we have convinced ourselves that all Economic Growth benefits Humankind and that the greater the growth, the morewidespread the benefits We must all realize that the American Capitalism we are now trying to push on other countries may not be what’s best for the rest of the world.However, the actual experience has proved that it is not even good for America.

Mr.Sekhar Swamy the Guest Speaker who has done extensive research in the study of Retail Chain management in India and abroad said it is highly preposterous to handover the food supply chain to these foreign corporations who always practice a narrow neck channel management wherein there will be hardly few intermediaries in the distribution chain between the original farmers and the final consumers.He then substantiated with adequate statistical data to prove that how these corporations miserably failed in countries where there is a strong regulatory framework which finally led them to their exit. The interaction that followed the lecture was very lively and proved once again that how MRC members are knowledgeable on any given subject on any day by fielding most potent and relevant questions to the Guest Speaker who expressed his happiness for getting this opportunity to address our members.