FDI In Trouble? SJM Opposes FDI Reforms By The Govt; Says It May Harm The Economy
It seems that not everyone is on the same page, when it comes to the recent, historical FDI reforms introduced by the Govt.
Swadeshi Jagran Manch (SJM), an affiliate of Rashtriya Swayamsevak Sangh (RSS) has openly criticized the Govt. for easing FDI, and have expressed anguish over it’s implementation.
As per SJM, such huge inflow of FDI can harm the Indian economy, and can take away employment across the nation.
Ashwani Mahajan, All India Co-Convener of the Manch said, “SJM believes that the present decision of the government to ease FDI norms for major sectors of the economy has been taken in a hurried manner and without going into the pros and cons of the decision.”
Calling for a White paper on this sensitive issue, SJM has stated they want all “decisions to put on hold” regarding FDI.
SJM, which has close links with RSS, which in turn has very close links with BJP, has accused the present Govt. of acting like their successor UPA in terms of FDI decisions. Ashwani further said, “It is painful to see that the present government continues to follow the policy of previous UPA government in this regard..”
Two Reasons Why This Is a Warning Bell For The Government
This recent opposition comes barely 3 days after Bharatiya Mazdoor Sangh (BMS), another RSS affiliate opposed FDI reforms. BMS is the largest central trade union organization in India, having more than 1 crore members, and such open oppositions can be a threat to the Govt.
BMS general secretary Virjesh Upadhyay had said, “The economic experts all across the world have rejected both capitalism and socialism/communism as viable forms of economic organization as they both have failed to enhance the ease of living of mankind.”
And last week, an influential lobby of RSS Swayamsevaks, which have a Twitter following of 70,600 followers, asked the Govt. to take action against ecommerce portal Mynta for selling cow leather shoes and thereby “hurting religious sentiments of Hindus.”
— RSS (@RSS_Org) November 11, 2015
Myntra was quick to respond as they said, “the product in question is an imported product and/or made from imported leather. the sale of leather products is not illegal in India. Please be assured that we function within legally permissible norms..”
Relief came for Myntra, after RSS officially distanced themselves from this vague demand, and Tweeted, “We do not subscribe to the views expressed on @rss_org as it is not the official Twitter handle of RSS :- Dr Manmohan Vaidya”
We do not subscribe to the views expressed on @rss_org as it is not the official Twitter handle of RSS :- Dr Manmohan Vaidya
— RSS (@RSSorg) November 13, 2015
Just for information, India is right now 5th largest exporter of leather goods and accessories in the world.
BJP was created as a political wing of RSS, which call themselves as “right-wing volunteer, Hindu nationalist, non-governmental organisation.” It also claims to be the “world’s largest voluntary non-governmental organisation.” As per Wiki, RSS states that its ideology is based on the principle of selfless service to India.
There has been no official statement from the Govt. regarding the demands for FDI norms. PM Modi is right now visiting Turkey for the G20 summit, and his response is expected once he comes back to India.
We will keep you updated on the FDI reforms as and when it happens.
Some major FDI related news we have covered in the last one year:
- Govt. Opens Up FDI across 15 major sectors (November 11, 2015)
- India Beats China and USA in attracting FDI (September 30, 2015)
- 51% FDI In Multi-brand retail allowed; But AAP Wont Allow it (May 14, 2015)
- Govt. Approves FDI In Insurance Sector; Rs 60,000 Cr Investments Can Come in (May 13, 2015)
- FDI In India All Set To Double After PM Modi’s Assurances (May 26, 2014)
- Indian Railways get FDI approval in 17 key areas (November 13, 2014)