By IANS
New Delhi : The entry of retail giants like Wal-Mart into India should not be a matter of concern as Indians abroad, particularly in Britain and the US, have effectively taken on such chains and prospered, says Britain-based business magnate Lord Swaraj Paul.
“Why should the entry of chains like Wal-Mart be a concern here? Indian businessmen in Britain and the US are prospering in spite of these chains because they have created a niche for themselves,” Paul told reporters here Sunday evening.
“When Indians can take on (such chains) on their own turf, why should it be a problem here? The trick lies in finding the way to do so,” he maintained on the sidelines of a function to launch a magazine aimed at NRIs.
Similarly, the opening of Reliance Fresh outlets across the country would not drive neighbourhood shopkeepers out of business, the Indian-born British peer contended.
“Everyone has a role to play. It’s just a question of adapting to the changed circumstances,” stated Paul, who has been honoured for his role in furthering India-Britain ties.
Speaking about these ties, he expressed confidence they would be further strengthened with Gordon Brown becoming the British prime minister.
“Brown is much more committed to India (than his predecessors) because he sees India as a partner and not just from the point of view of investment and trade,” Paul pointed out.
Brown’s predecessors Margaret Thatcher, John Major and Tony Blair “did magnificent work” in promoting India-Britain ties and “much more will happen now”, he maintained.
Paul also spoke of the need for inclusive growth if the true benefits of the booming economy were to reach those who needed it the most.
“I am a very passionate believer that India should be called a developed country but this is miles away because there is no concentration on the core issues,” he stated.
He listed these core issues as poverty, education, healthcare and the “disgraceful” treatment of women.
“The abysmal instances of female foeticide, particularly in Punjab and Haryana make me ashamed, particularly because I trace my roots to Punjab,” Paul said.
“Progress comes not by singing songs of economic development but by ensuring all the 1.1 billion Indians benefit. Of course, the fruits of development will not reach all the people, but one should at least try,” he stated.