Why India Should Welcome WalMart With Open Arms

There’s a debate going on in India about whether foreign retailers should be allowed full access to the consumers of that country. Or rather, there has been a debate going on in the background and now, after the election, people seem to have stopped talking about it as it’s a difficult political question. It is, however, an extremely simple one from the point of view of economic policy. India should abandon the restrictions that keep the WalMarts of this world out of the country as fully foreign owned organisations. Doing so would make the country vastly richer which is always a sign of a good piece of economic policy.