Aparna Mathur & Rohan Poojara | All Articles

Aparna Mathur & Rohan Poojara
Aparna Mathur & Rohan Poojara
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      Aparna Mathur & Rohan Poojara

      Aparna Mathur is a resident scholar and Rohan Poojara is a research assistant at the American Enterprise Institute.

India and Wal-Mart: Democracy at a crossroads

              In this May 16, 2011 photo, the Wal-Mart logo is displayed in Springfield, Ill. What Wal-Mart Stores Inc. says about how it's reversing a slump in its namesake U.S. business will be at the front of analysts' minds at the company's annual meeting with Wall Street Wednesday, Oct. 12, 2011.  (AP Photo/Seth Perlman)

When candidates flip-flop, their poll numbers suffer, but when countries flip-flop, entire economies suffer. This scenario is playing out in India after the government flip-flopped on its decision to allow retail giants such as Wal-Mart to own a majority 51% stake in joint operations with a local partner. Just last week the government gave the go-ahead for this reform. Unfortunately, the victory was short-lived as leftist politicians and even right-winged opposition parties seeking to disrupt regular functioning of the government forced reform-minded Prime Minister Manmohan Singh and the ruling UPA coalition to roll back their decision on Wednesday.