By TCN News,
New Delhi: The Welfare Party of India (WPI) strongly objected to the recent broad policy changes in FDI announced by the Modi government.
Dr. S.Q.R. Ilyas, national President of WPI in a statement said the unrestrained changes without adequate and appropriate safety valves will be detrimental to the interests of the nation. He also criticized BJP for taking a complete U-turn on FDI.
“While in opposition with vociferous hymns and mantras of Swadeshi, it opposed every move of the UPA regime’s FDI and liberalization policy citing national interest and security. It proves our political parties are driven by opportunistic interests rather than any concrete ideology or national interest and hence they change the stands as per the chair they occupy” the statement continued.
Dr. Ilyas added that opening vital sectors such as defense, civil aviation, pharmaceuticals etc to profit-only-motivated foreign players without any social concern will not be in the interest of the nation.
“Doing away the local sourcing clause for single-brand retail outlets for three years will invite death bells to the manufacturing sector already under declining mode. Government stand of impossibility of raising funds or investments within the country or from PIOs/NRIs is absurd as no serious effort in this regard has been made so far by any government”, he added.
He suggested that the union government initiate a serious effort in this direction first and make them the partners in the place of foreign players with ‘unholy’ motives in most cases.