Shorthand Dictation 80 Words per minute “ Foreign Direct Investment (FDI)” , Test 10 Minutes with 10 Minutes Audio Dictation, Shorthand Outline and Text Matter. Test 12

Madam, I want to express my views on the Motion moved by Smt. Sushma Swaraj, Leader of Opposition seeking to withdraw/ the Government’s decision to allow 51 percent Foreign Direct investments in multi-brand retail trade.  I rise to oppose/ this move.  IN the era

of global integration of business, trade and industry we have no other option but to/ move along with the world.  We know that lakhs of our engineers and doctors are working abroad and bring lot/ f foreign employment through outsourcing while living in India.  Our automobile (100) industry is flourishing and selling its products abroad.  Foreign Direct Investment in multi-brand retail is not coming without any/ conditions or restrictions imposed by our Government.  In the first instance the foreign company who would like to enter business/ In India will have to invest 100 million dollars in the country. Out of this 50 percent will have to be/ invested in the back end infrastructure sector.  This will benefit sectors like cold storage chain, food processing, warehousing, inventory management,/ farmer support system, food processors and its distributors.  Thirty percent of the manufacturing product will have to be sourced (200) from SMSE sector by the Foreign Direct Investors.  A direct fallout of huge FDI in the multi-brand sector would/ be employment generation.  We are the second largest fruit and vegetable producer in the world.  We produce more than 200/million tones fruits and vegetables get perished/ due to non-availability of markets and lack of cold storage facility with the farmers of our country.  It comes/ to the loss of thousands of crores of rupees.  Through multi-branding the produced items are directly purchased from the (300) farmers and given them the right price or even a better price because it can be sold where it fetches/ good prices.  Thus, middle men can be avoided who used to eat away a bulk of the profit. FDI will/ increase productive capacity.  It will help in creating infrastructure and assets in addition to generation of employment in the country./ It will lead to technology up-gradation and thereby increase business and trade.  It will improve the economic development of the/ country.  We can witness that now China is progressing in the global market with Foreign Direct Investment. If India has (400) to compete with the world we have to be opened up and allow foreign.  companies to come and invest in / India. We know that by allowing world brands in our market it will only improve the quantity, competitiveness, choice for / the consumers and thereby employment generation and growth of economy. Above all, FDI is not imposed by the Central Government / on any state in the country. State Governments are free either to accept or not to accept FDI in their / States. With these words, I opposed the Motion moved by the Hon’ble Leader of Opposition.

Sir, I would like (500) to put forward my views with regard to FDI in Multi-brand retail sector. The Central Government has allowed FDI / in multi-brand retail and there has been mixed response to this decision. While one side has welcomed this move / as it is expected that the FDI would help in bringing supply chain improvement, investment in technology, manpower and skill / development, growth in market size and benefits to Government through greater GDP, tax income and so on. The other side / has opposed FDI in retail as it brings huge displacement of people employed in unorganized retail trade and present inability (600) of manufacturing sector to absorb this surplus workforce. There is also fear of these global retailers attaining monopolistic status and / harassing both the suppliers and consumers. While these are the broad issues with regard to FDI in retail, my state / Kerala faces a unique situation. It has a large retail sector and strong service-sector economy. With regard to strength / of retail chains, no distinction can ne made between rural and urban areas. As you know, Kerala is an extended / city right from North to South of Kerala. And hence there is no distinction between rural and urban area. Kerala is (700) a very small state densely populated and more of a consumer state. Due to lack of sufficient land availability and / environmental hazards, no huge labour intensive manufacturing industries are located in Kerala. The main sources of employment for the majority / of people of  Kerala are by setting up small retail shops or getting employed under medium retail establishments. There is / a genuine fear among the small traders in the State that the foreign retailers will cripple them and wipe them / out. It is a proven fact that in most of the developed countries where the FDI has been edged out. Initially the foreign retailers pretend to be very consumer friendly and / supply goods to the end user at a very low price. Meanwhile the small retailers will not be able to / compete with the giants.