FDI: Govt gets brickbats from Sangh-affiliates, Opposition

“Opening up sectors like retail, defence and pharma to FDI is betrayal to people... this government has not done good to the country in general and local businessmen in particular,” Swadeshi Jagran Manch’s national co-convener Ashwani Mahajan said.

PM Narendra Modi’s push for foreign direct investments has failed to impress the Sangh-Parivar (RSS) affiliates, let alone his political rivals.

PM Narendra Modi’s push for foreign direct investments (FDI) failed to impress the Sangh-Parivar (RSS) affiliates, let alone his political rivals.(AFP Photo)

“Opening up sectors like retail, defence and pharma to FDI is betrayal to people... this government has not done good to the country in general and local businessmen in particular,” Swadeshi Jagran Manch’s national co-convener Ashwani Mahajan said.

The Parivar’s trade union arm, BMS, said FDI is not the way to bring more jobs. “We welcome the government’s intent to create jobs, but FDI is not the only way to do so. Experience has shown that the outflow of funds far exceeds the inflow when FDI caps are removed,” said Vrijesh Upadhyay of BMS.

Congress dubbed the announcements as a “panic reaction”. “It is a reaction to show the world that it’s business as usual even as Raghuram Rajan has announced his exit…,” the party said.