No welcome mat for Wal-Mart in India

Scott Jagow Feb 22, 2007

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.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.