No welcome mat for Wal-Mart in India
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No welcome mat for Wal-Mart in India
TEXT OF STORY
SCOTT JAGOW: Many small shopkeepers in India see Wal-Mart as an evil shadow lurking over them.
Today, in New Delhi, protestors marched on government buildings and burned a dummy that said “Wal-Mart Down.”
That’s because Wal-Mart executives are in India working on a joint venture with an Indian retailer to open some cash-and-carry stores. Of course, that’s mom and pop’s bread and butter.
Joe Leahy is a Financial Times reporter based in Mumbai.
JOE LEAHY: India hasn’t really been exposed to this model of retailing until now. So there are fears among the millions of small shopkeepers here that they could be put out of work by the entry of these sorts of operations.
Now India laws prohibits certain foreign retailers like Wal-Mart from opening its own stores, but people are worried the Wal-Mart shadow is sneaking in the back door.
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