BJP Welcomes New FDI Policy of the Modi Government

Opening of FDI in key sectors like pharma, defense and civil aviation will give big boost to the economy by fulfilling capital requirements of the industry and help in job creation through manufacturing in these sectors.

In defense it will help in promotion of exports and self reliance in defense procurement.

In Pharmaceuticals industry which is already catering to African continent and many other third world countries and has also setup its base in US and European nations, it will help in building the multinational character for the industry.

In civil aviation the government has recently announced new civil aviation policy. The policy identifies around 350 places for setting up civilian airports, providing air connectivity. With the opening of FDI in civil aviation, several brownfield airports will start operations, increasing air connectivity network throughout the country. We already have good connectivity through roads, railways and water ways, this additional air connectivity will catelize large scale economic activity throughout the country.

Our farmers in the rural area need alternative employment opportunity and enhancement of their income. Further capital and technology is animal husbandry will help in enhancing income of the rural economy.

There are some reservation with regard to FDI in single and multi brands retail sector but these apprehension be well taken care off.

We already have strong FDI flows of more than $ 55 billion in 2015-16, up from $ 36 billion in 2013-14. By simplification and opening up of the FDI in these sectors, government is set to boost FDI flows further. At present we have large quantity of FIIs inflows which is hot money, with the increasing proportion of FDI’s inflows, the quality of money invested in India will improve.

For India to open up for economic development a proper ecosystem has already been put in place by the government. We now have a strong foundation of robust economic parameters like low inflation, stable currency, large foreign exchange reserves and transparent, corruption free and responsive governance.

It is not without reason that India is now the fastest growing economy of the world and is attracting the highest FDI. All because of the focused and committed approach of the Modi government for all round economy of the country. Over the last two years we have seen that there is a new initiative by the Prime Minister at regular intervals.

Gopal Krishna Agarwal

National Spokesperson BJP

gopalagarwal@hotmail.com