The retail window

The editorial ‘‘Retail window closed, for now'' ( Business Line , March 28) brings out the political indecisiveness in dealing with the issue. There are takers for the small traders, whereas the producers are left in the lurch.

The idea that India can open up the retail window in return to ‘something' from the US is an admission to the readiness for opening up the retail trade sector.

The Assembly election to a few States where the Congress has a stake may compel the government to put off the issue at least for a few weeks. The BJP, which supported the pension Bill, may eventually endorse the retail issue and the government may establish the necessary linkage with the principal opposition party, should the situation warrant.

The country looks forward to the merits of opening up the retail sector. The producers may be hit by stiff competition as foreign goods may over-power the domestic goods — more out of craze rather than quality.

The small traders and the ordinary whole-sellers would be swallowed by the foreign entrants. The government, which made the systems such as the PDS quite irrelevant, may be eagerly waiting for signals from the US with regard to the retail sector. It is possible that the foreign outlets may bring in some benefits in the supply chain or quality.

C. P. Velayudhan Nair

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Simplify procedures

This refers to “Nothing special, or economic, about these zones” ( Business Line , March 28). The SEZ policy, created by the government, was not clear and could not achieve the result in an optimistic manner. Merely doling out financial incentives will not bring about development; what is important is providing basic infrastructure needs such as laying roads, power, water supply, and skilled manpower.

The procedures and process of notification should be simplified and the implementation progress reviewed periodically. Technical and financial audit of private players should be done regularly by the government to minimise irregularities.

The compensation towards land acquisition should be on a par with market value and alternative employment should be provided to the family members.

Vedula Krishna

Visakhapatnam

Euro's stability

The euro has rallied until recently, despite its core issues. It is the ECB's rate hike signal that boosted the single currency. While expecting the rate hike, the markets completely ignored the real problems of the euro zone. The Irish banking system is still on the brink of collapse and Portugal is confronting a political gridlock; the eventual climax of this would be the ruling party calling for a snap election. There was a couple of rating downgrades, of late: First, Greece's rating was lowered and then Spain's. The euro is vulnerable to attack, whenever the problems of the zone's weak links are exposed to the markets. So, unless there is a concrete fix to solve the real problem of the zone, the stability of the single currency is really questionable.

R. Balamurali

Tiruchi

Sage advice

This refers to “Witty Oracle gives sage advice” ( Business Line , March 26). In his urge to win over, Mr Warren Buffett reaches out with ease. One who discovered the youth in time for his freewheeling interactive sessions at educational institutions in the US and elsewhere is reaping rich dividends. His sense of humour, couched in business terms, is a unique trait that very few businessmen possess. His innate ability to adjust to macro factors is remarkable.

His frank admission of the role of wealth, country of birth, gender and other opportunities that make an individual what he is, reminds one of the need to get over the inadequacies and keep pace with the situational-requirements. Saying thus in a country such as India points towards building one's talents and the talent pools for an emerging economy.

The philanthropist in him makes him tell about his family and how the western (especially American) way of life is so much about returning to society what one gains from it as a two-way traffic. Indian philosophical thinking is to give charity for a cause but the Americans think that except by retaining a small portion for the family, the rest should be returned to society for causes dear to the donor.

A lesson Indians could draw is that they should not confine donations and charity to religious, caste-based, home-town-based and other self-centred purposes, but should be open to giving back to society. Hence, being “detached emotionally” is a core competency to be developed.

K. U. Mada

Mumbai

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