08th May, 2014 : Foreign Direct Investment

FOREIGN DIRECT INVESTMENT

Good Day. In our country, the economy is degrading due to the globalisation strategy. The merchants who are doing business in India are suffering a huge loss due to unconventional and stagnant products selling by the foreign market giants in our Indian market and in a high competitive situation.

People are more aware about the things happening in our economy, but still there is no change in the attitudes of the people. If people encourage the local products, they will improve their quality as well as standards. Unless we encourage, we’ll face problems of inflation.

Financial reforms are introduced by Smt.Indira Gandhi in 1990’s for a good cause, but we are spoiling our great Indian market by giving much importance to the foreign products. When people stops using foreign products, the alternatives will be visible, but there would be no such circumstances I think.

So, if we want to use foreign products, then buy those products from Indian merchants, as the last way. Do you agree? I think you would question me like “What is the difference?” If we buy those products from our local merchants who import from the foreign giants, they would get benefit. But, when the foreign giants established their manufacturing companies in our country, they would be helpful for many unemployed people, but it would be a great effect to the Indian Economy.

International Standards Organisation (ISO) is the statutory body which conducts several security tests for the products and fixes some values and ratings to those which would reach public. Indian market has a big value in ISO because of its imports. Super markets, bazaars and other giant stores are setting their marks in our country. This results in the decrease of poor Indian merchant’s business.

Mixed economy means where public sector and private sector works mutually and getting profits which results in the increase of purchasing power. Inflation comes when there is rise in price and decrease in purchase value. We have to maintain the balanced condition in order to improve our economy.

Please don’t encourage Foreign Direct Investment as it spoils the Indian economy. Of course we can encourage those outsiders up to some extent, if it crosses limit, then we’ll lose our existence way back before independence. Nothing is impossible, so please try to develop our economy by encouraging the local merchants and local products.

I think my essay would be helpful to write descriptive paper, for those who are writing SBI PO-2014 exam.

Thank You                                                          Jai Hind