A working paper in the Prime minister’s office, talks of 1 trillion dollar worth of investment plan. It was fun to read it. The FDI in retail, and all other measures recently taken seems to be too late like a struggling batsman chasing 100 runs in the last over.
The greatest mistake of our prime minister was that he was mum for a long time and when a foreign newspaper discredited him, he wakes up.
An issue like FDI in retail is sensitive because of the turbulent political condition and the doubts on the policy. Same thing happened when we decided to allow foreign companies to manufacture cars in India. But see now we all enjoy a Car revolution with cars available as like in a fish market.
What is missed is the ability of the prime minister to address the nation and get the nations confidence before the actions are taken. I remember the late PV Narasimha Rao’s message of hard decisions prior to the 1991 reforms. The initiator of those reforms who is the prime minister now, sadly did not have this wisdom.