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Thursday, July 8, 2010

It's a mixed bag for kiranas

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“Our survival will be threatened if 100 per cent FDI in retail is allowed!” exclaims Mr Rajiv Singhal of Mediways, a grocery store in Delhi's Mayur Vihar Phase I Extension area. He points out how the entry of Reliance Retail around three years ago in the area has hit his business badly.
“We have had zero growth despite the addition of three new apartment complexes in the area,” he says.
“Now, if the Wal-Marts too come in, we will be completely wiped out,” he says. “I thought Ms Sonia Gandhi was on our side – I remember a promise she made when the Wal-Mart-Mittal tie-up was announced,” he adds, belligerence creeping into his voice.
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