A view of seminar on FDI in the Retail Sector organised by the Department of Business Innovations in collaboration with the Department of Economics and Commerce, SCD Government College, Ludhiana.
Ludhiana, February 22, 2013: Foreign Direct Investment (FDI) in the retail sector is a compulsion and if India wants to remain as a signatory to the International Agreements promulgated by World Trade Organisation and General Agreements on Tariffs and Trade (GATT). We cannot close down the doors for the international business partners if we want the others should open the doors for us. The apprehensions expressed by some of the stake holders in retail sector are just their doubts which are far from the reality. These were the views expressed by experts and young research scholars during a one day seminar on FDI in the Retail Sector organised by the Department of Business Innovations in collaboration with the Department of Economics and Commerce. Chairman of the Ludhiana Stock Exchange and former Principal of the SCD Government College, Ludhiana Prof. V.P Gaur who was the chief guest of the seminar said that students has to express their views on the various economic issues to develop expertise. He said that issue of FDI should be decided by the economists and not by the politicians.
Prof. Dr. Vijay Asdhir, Director of the Khalsa Institute of Management and Technology who was chairing the technical session during the seminar said that concerns of the unorganised sector regarding tough competition, retransformation are valid but it is the need of the hour that people working in the un-organised retail sector has to be organised to bring innovations.
Dr. Ashwani Bhalla, Programme Coordinator of the Post Graduate Department of Business Innovations said that those who are expressing the apprehensions about the opening the door for FDI in the retail sector should become innovative and transform their businesses in tune with the requirements of the modern world. He said India is a country with vast potential with sound skilled human resource base and if given opportunity our Human resources can do wonders.
Dr. Bhalla said that world is looking us not as a investment destination but also as a hub of job creation activities where number of job opportunities can be created. He said that today is a world of synergy in business where we cannot ignore the other parts of the world.
Dr. Iradeep, a senior lecturer in the department of economics expressed his views on the various job opportunities which can be created after the coming of FDI in retail.
Roshini Kapoor, a research scholar in the department of Business innovations talked about the various conceptual aspects of the FDI, Pranav Gupta, Priyam Saxena talked about the pros and cons of foreign direct investment and India’s prepared to face the competition.
Isha Dhawan, another research scholar talked about the two sides of the coin regarding the FDI in the retail.
Sukhpal Singh B.B.A-II, Abha M.A-1 (Economics) and Sukuriti (M.A.-II (Economics) also presented their papers in the seminar.