Tug of War of Philosophies on the Deal of Walmart Buying 77% Stakes in Flipkart
Swadeshi Jagran Manch (SJM) representatives in a meeting to commerce minister Suresh Prabhu, complaint about proposal of Walmart on buy 77% stakes in the homegrown retailer Flipkart. SJM is suspecting that there is violation of Indian Laws and regulations in this deal. Later Department of Industrial Policy and Promotion sent out a memo to three top regulatory and enforcement agencies to investigate the deal and take action.
SJM is not in support of the deal and called it unholy or a bad rock for the Indian economy on a long run. They have their Swadeshi or an indigenous economic system which is a vision of India being self-sufficient in all the spheres. There are absolutely against the foreign influence in the domestic market. They are also being a critic to the Indian think tank NITI Aayoy and opposing the policy of it.
Many experts says that Swadeshi Plan sounds good but have less in the crux because there no well formulated policy for an economy to work. On the same time India being a country with many demographic problem which are to be resolved soon and Swadeshi economy is supposed to work slow. There are both pros and cons to the plans of SJM and NITI Aayog. Now there should be a middle way to figure out something sustainable for the country.