Hello and welcome to exampundit. Today we are sharing another Essay for SBI PO and BOB Manipal PO exam 2018. The following topic of the Essay is “Can India Produce a Walmart?”.
Can India Produce a Walmart?
India’s e-commerce sector has been on the rise with the constant entries of new online stores in the market. A survey shows that India’s e-commerce market is set to become the second largest in the world after the US by 2020. With the NDA government’s emphasis on considering start-ups as a career option, the online businesses have been thriving. Young generation is driven towards starting up their own business and being their own boss rather than working for someone else. Recently there has been a new entrant in the market which has turned heads, given birth to arguments, and risen speculations about the future of India in e-commerce; Walmart.
Since Walmart bought Flipkart, which was supposedly making losses throughout its life in India, many fingers have been raised about government’s smartness regarding data localization and funds reallocation. In the past few years, the online market has been dominated by foreign companies and there are only a few Indian online stores that have managed to leave a mark. Now the two main questions that arise with the foreign entrants are; Does Indian market has the potential to welcome a store like Walmart? And what does the future of Indian retail market looks like?
There is a lot of potential in Indian market, undoubtedly. This is clear by the keenness of the deep-pocketed foreign investors willing to invest here. But at the same time, the regulatory institutions along with the government of India need to come up with policies which would prevent everything from the market going into the hands of foreign investors. India’s internet economy is one of the biggest prospective market. It is time for the Indian government to come up with clever strategies which would substantially be fruitful to our country. There should at least be something valuable for the Indian economy. Only then it will prove to be a success for both the parties or it will no less than willingly handling our future into alien hands.