In a determined action to push through the policy of Foreign Direct Investment the UPA Government of Mr.Manmohan Singh has expanded the area of FDI to Pension and Insurance Sectors. It added fuel to fire to the temper of Mamta Banerjee who declared her aim to ensure the fall of Government on this issue.
The NDA the UPA supporting parties like Samajwadi and Bahujan Samaj parties also expressed their opposition to it. The DMK of Karunanidhi and NCP of Union Agriculture Minister Mr.Sharad Pawar maintaining silence on the issue without any indication of the favour or opposed to it.
The UPI Government has faced such same position and situation in its first term on Indo-US Agreement on Civil Nuclear energy. The supporting parties of Left Front and the NDA tried to oust it on the floor of the Parliament but failed to do so. The UPA First Term Government not only survived on proving the majority support but also secured renewed public mandate in the next general election and formed the 2nd UPA Government in continuation.
Even now the Government is confident of winning the majority support. Even the NDA Convenor Mr.Sharad Yadav and Bihar Chief Minister Mr.Nitish Kumar have said that the Government would manage the majority in the Parliament. The NDA will vote with Trinamool Congress if it bring up a no-confidence motion.
Some years back when the Government signed the WTA (World Trade Agreement) to open free trade among the nations, through imports and exports. At that time also apprehensions were expressed that foreign products will cover all the Indian market and our industries would face closures and economic disasters. But nothing of that sort happened. On the other hand Tata, Ranbaxy Laxmi Mittal, Wipro purchased many renowned and established firms like Jaguar, of UK, Corus Steel of Brazil, steel plant of Laxamburg and pharmaceutical giants of UK and Japan to establish the industrial might of India in world competitive markets.
The Foreign Direct Investment will enhance the money supply in Indian economy, the capital will be available on law interest and above all world market in foreign retail outlets also. Wey we are not presuming if Walmart will bring foreign products in India it will buy our own products to keep it in retail outlets in US and other nations. Even after WTA agreement even garlic from China, torches and cells and even soaps from Indonesia came into our market, but people here not preferred it and those nation could not compete here.
We have emerged as a strong developing country with sound economy and vest market. We must have self confidence in our economic strength to enter the world economy without any imaginary apprehensions.
Founder : Late Shri Ramgopal Maheshwari