100% FDI in Defence: How Wrong can you Get?

A Move to Jeopardize India’s Military

Interview with D. Raghunanda

A Golden Raspberry Award or Razzie has been awarded in Hollywood every year since 1981 to the film declared to be the worst movie of the year just a day before the Oscars. If there were a Razzie for the worst public policy in India in the recent past, it would certainly go to the Modi government’s announcement of opening up the defence manufacturing sector to 100% FDI with relaxed norms. Even as muddle-headed policies go, it cannot get worse than this.

The government has recently opened up defence production to 100 % foreign investment, with dilution in conditions those were the pivotal to this policy. The government, in the new rules, have amended the earlier condition of “state of the art” with “modern”, a move that would leave a lot of scope for interpretations. 

Newsclick spoke to D Raghunandan, Defense Analyst, to know the nuances of this policy and its potential implications.

Excerpts from the interview. 


Courtesy: Newsclick.in



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