FDI: THE DEMONIC MYTH THE SYSTEM IS CREATING

One of the first lessons in ECONOMICS I was taught along with many students in school was – Whenever a foreign company or a foreigner invest in other nation’s economy, the company or the individual will take away the Nation’s wealth to their / his Nation to benefit. Thereby, it will be the loss of the Nation whereas a foreign company / foreigner will benefit to increase their / his nation’s GDP / wealth.

 

I was also taught about the “Brain-Drain” and India as the nation has lost a great deal because talented intelligent Indian brains are serving the foreign countries more than they have bothered to serve their own country. Every now and then we hear or read that Indian doctors are doing great work in foreign countries, majority of the IT workers in the Silicon Valley in the US are Indians, Scientists, Engineers etc etc are gaining great recognitions abroad and we, as Indians are quick to shout aloud – ‘Sunita Williams is of Indian Origin; Such and Such Indians are part of the Curiosity’... well, the list will go on and on... How silly it is of us to be proud of someone else’s country’s progress and success to claim the credit?

Foreign countries have been very intelligent to offer citizenship of such talented brains... simultaneously to save their countries’ wealth and have the best brains to serve them. By offering their citizenship, they actually have restricted the Indians and other nationals to send money in their respective countries for the respective countries’ economy to benefit.

Our corrupt Prime Minister is an Economist... and I wonder how on the earth, he has forgotten these simple lessons of Economics? When a foreign company will invest $ 1 Billion, but obviously, they will take away $ 51 Billions of Indian money from our Economy to their Economy... it is not a rocket science or something really difficult to understand. And with the Economy of the foreign countries in doldrums, our Prime Minister is actually helping their Economy while selling our Motherland and Nation’s Wealth so that our Economy loses everything.

Ever since the Government announced about the FDI, I have been reading various views and opinions of various columnists and I am really surprised that no one has written about the simple Economic Theory... everyone has been speculating and hyping the issue that FDI will benefit the Nation... I wonder, how will the Nation benefit from FDI? FDI is the Demonic Myth, the System is creating like all other Myths... to benefit the Political Circle, Government Officials and the few Rich Corporate Companies to suck the last drop of blood of the billion plus population of the nation.

In the whole world, India as the country is perhaps the RICHEST COUNTRY, because:

We are the largest consumer of Gold in the World;

The highest number of SCAMS (More than 120 Scams that I counted in one week's time to finally give up making the list), the Manmohan Singh Government has given birth to, worth zillion & zillion of dollars in mere 7 years;

We have the largest deposits of Black Money in foreign banks (obviously, other countries are enjoying at our expense) as compared to any other nation in the World ;

We have the Largest Temple treasures in the World;

Just to name few of the realities of Indian Economy... so one wonders as to why and how the FDI can benefit our country on the whole? When we have so many billionaires in the nation, how come they cannot serve the Nation’s Economy to create job opportunities to benefit the countrymen, when these billionaires are investing in foreign shores to create job opportunities for them?

Over the past few years (10 to 12 years), we have seen the Mall Culture invading the Urban Cities of India... but, they are fast collapsing in cities like Bombay... Malls which opened with great fanfare in the early 2000, have shut shops... except the eateries in the Malls, none of the shops are really making money... almost all the foreign brands are selling thier products in descounts and Sales...Reid & Taylor is a passe brand, so is Scullers, Benetton etc etc...

I am more concerned about the Agriculture Sector... and I wonder how on the earth, the majority of marginal farmers will benefit from the FDI?

Will the foreign companies invest in Irrigation Infrastructure to benefit the farmers of the nation to complete the decades old projects at a faster pace?

Will the farmers get to buy cheaper seeds, fertilizers, pesticides because of FDI?

Will the farm labourers’ scarcity be solved by FDI?

Will the Wages of farm labourers increase because of FDI?

Will the FDI build storage godowns for FCI to store all the foodgrains that are being allowed to rot in the Open Air Storage (worth billions of rupee)?

Will the FDI solve the problems of the PAPs (Project Affected People) to give them maximum compensation?

Will the farmers get a higher MSP (Minimum Support Price) for their produce from the market because of FDI?

The ‘answer’ to all the above simple questions is the big “NO” ! In fact, the farmers of the nation will lose more fertile lands because of the FDI... they will lose more money because the FDI is going to squeeze all their hard earned money through various means and products... more cheap Chinese goods will flood the market... my friends in America say, “When you enter a Mall or Big Store Chain like Walmart... one can find 90 to 95 % of Chinese manufactured goods...”

Well, I am an ordinary Indian and I know for sure that FDI will take away my nation’s wealth to their respective countries. FDI will only benefit the Rich Corporate Companies, who will tie-up with foreign companies to further fill their coffers... FDI will benefit the corrupt politicians and government officials to fill their already filled coffers... instead of progressing as a nation, we are in fact going back in time, when the British Traders were welcomed by us... to rule us for 200 years... taking away all our Nation’s wealth and treasures...

No wonder, when a foreign lady is holding the reins of the nation, the Motherland will be bound to be sold to other countries... 

Even the uneducated farmers whom I interacted with are much-much more intelligent than our Economist corrupt PM... they all say - "All our nation's money will go to foreign land..."