Mamata opposes hiked FDI limit in telecom, defence
Kolkata: Expressing deep anguish over the central government's decision to hike FDI limits in a host of areas including telecom, insurance and defence, West Bengal Chief Minister Mamata Banerjee said the move will put the nation's security under grave danger.
"It is very unfortunate to see increase in FDI in Telecom, Defence and Insurance sectors amongst 13 different sectors. The increase of FDI in telecom to 100 percent has very serious security implications for the nation. "The whole telecommunication platform will be controlled by foreign companies which owe their allegiance to their own countries and serve their own interests," Banerjee said on a social networking site.
"In today's world defence is heavily reliant on telecom system. By increasing FDI in defence, we are compromising safety and security of the nation. It is a myth that FDI hike will bring transfer of technology to Indian companies, as there is a 'Technology Denial' regime which does not permit developed world to transfer defence technology," said Banerjee.
She also accused the Congress-led United Progressive Alliance government of putting in grave danger the lives of common people as well as the country's security through its economic policies.
RBI Chief Raghuram Rajan stated that more economic data is needed to be confident that economic growth is picking up, although he added that the benefits to exports from the Rupee's fall is yet to kick in.
Date 11-12-13, Duration 2:19, Views 47