02 August, 2021

"Development Doesn’t Depend On Foreign Money"

President of the RSS-affiliated Bharatiya Mazdoor Sangh on the easing of FDI norms and plans for disinvestment and privatisation

Photograph by Tribhuvan Tiwari
"Development Doesn’t Depend On Foreign Money"

As the Modi government moves ahead with steps to boost India’s attractiveness as an investment destination, the RSS-affiliated Bharatiya Mazdoor Sangh (BMS) is firmly amongst trade unions opposing easing of FDI norms, plans for disinvestment and privatisation. “Development does not ­depend on any big industry or foreign money,” BMS president Baij Nath Rai told Lola Nayar in an interview. Excerpts:

The government has further opened up several sectors for FDI, including all­owing 100 per cent in some through the automatic route as part of its ease-of-doing business plans. How does BMS view the developments?

You see, we have already communicated to the government that FDI is not the only means for the development of a country. We have told the government that if you desire FDI in any industry, you must hold a tripartite meeting with the industry concerned, the union concerned and yourself. You have to convince them why you desire FDI there. Unless this is explored, you cannot announce...

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