27 January, 2021

Stones And Glass-houses

TNCs may be guilty of all charges flung at them, but Indian companies are no angels

Stones And Glass-houses
SUDDENLY, the battle-cry against the transnational bogey has diminished in intensity. The Confederation of Indian Industries (CII), which, a few months ago, painted TNCs as greedy ogres out to shortchange India's interests, has lowered its alarmist pitch. Says an industrialist: "It's clear that the TNC bogey was a lobbying strategy—a message being sent to the Government that Indian interests better be protected in the second round of reforms."

Amidst all the allegations, no one seems to have bothered to look at our own corporate backyard. Says the managing director of a leading finance company: "In its targeted bid to create controversy, the CII has conveniently overlooked the affairs of its own industries. Almost every single allegation against TNCs holds as good, if not worse, against many Indian firms." Indeed, foreigners are not the only devils in "pulling the rug from under the national feet; in indigenous ways, domestic firms do the same," says a CII member. "The charges against TNCs may be valid, but the CII should also bring...



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