Unjustified Concessions to MNCs

The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement:

 

The Polit Bureau of the Communist Party of India (Marxist) expresses its strong disapproval of the unjustified concessions given to MNCs to set up new units in the same field of business without approval of their Indian partners. The announcement made by the Department of Industrial Policy and Promotion even allows MNCs to change their Indian partner unilaterally. This measure will only strengthen the grip of MNCs over the Indian economy at the expense of Indian companies.

 

The above notification further allows hundred per cent FDI in development of seeds, horticulture and planting materials without any restriction. This will adversely affect Indian seed manufacturers and peasants would be at the mercy of MNCs for the supply of seeds.

 

The Polit Bureau calls upon the UPA government not to pursue these measures which will immensely harm our industrial and agricultural development.

 

The CPI(M) appeals to the people to resolutely oppose these measures to force the government to withdraw them.