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Debate on ‘FDI in Retail’

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PRESS RELEASE

Debate on ‘FDI in Retail’

  • Date October 4, 2012
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An intra-college debate, organized by the Academic society, was held at ISBF on the 4th of October. The motion for the day was FDI (Foreign Direct Investment) in multi brand retail and whether it is a boon or not. The entire room was packed; all judges, participants and other spectators watching with rapt attention. The judges invited for the occasion were Prof. Aryapriya Ganguly, Prof. Rohit Malhotra and Dr. Verma. The speakers addressed a number of issues during this two hour debate, forming a vast pool of contradictory opinions. Participants speaking for the motion emphasized the potential means by which FDI could turn out to benefit the local farmers and suppliers, as well as create better employment opportunities for the rural youth with an increase in labour requirement. On the other hand, interjectors posed the question of what would happen if foreign retailers ended up forming monopsonies in the country, which would ultimately hit the supplier market as the bargaining power of retailers would start to increase. There was also the worry, brought forward by those speaking against the motion, that the Indian retail sector, which is currently far from organized, would perhaps not react positively to foreign interference. And one could not deny the fact that a major percentage of the labour force in India may not even be experienced enough to be thrust into the organized sector. The evening was certainly a success as it displayed a high level of enthusiastic participation from all those taking part, as well as a number of other students who came up with well thought interjections. The judges were pleased with the debate on the whole, and also had their fair share of say on the topic. According to Pranay Agarwal, Head of the Academic Society, “It was great fun organizing this event, and I’m really happy with the effort put up by my team. This was a great success, and we are looking forward to organizing many more such events”. Awards given out that evening were: Best interjector Best speaker (for the motion) Best speaker (against the motion) Paramveer Arora Ashwin Dubakka Aanchal Gaur Debate on ‘FDI in Retail’

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