Nageswaran’s remark came after Reserve Bank of India data showed that net FDI inflow into India dropped by 62.17 percent year-on-year to $10.58 billion in 2023-24, a 17-year-low. Simply put, India’s ability to attract foreign investment has come under challenge amid a combination of adverse circumstances — global economic uncertainty, trade protectionism and geopolitical risks, etc.
It took the fascist clown in the BJP government two complete terms to find out that being a running dog for an imperialist hegemon is a dead end. Unfortunately, they will never realise the second key ingredient in not being a failing economy, which is giving up on rapacious neoliberalism and investing in basic public services like education and health. This is on account of the fact that BJP is a front for big corporations and exists for and because of them.
I don’t know how this desperation for Chinese FDI will end up. India has struggled with high tech manufacturing a lot. The iPhone factories here have low productivity. Even, the pharma industry, which has historically been reliable and something that many countries and just India have benefited from, is not killing unsuspecting consumers in Africa. BJP’s “Make in India” scheme has been a failure. As such it feels like they are moving to China only because they are running out of Western investment to squander.
This is good for China though so there is that.
Also for the record only thing make in india make were weapons for Israel’s genocide. There’s that.
Which weapons? I was not aware of this.
Some of missiles that were used to bomb nusseirat camp were from India.
I mean they weren’t gonna squander the trade with china. The tata takeover after wistron and other larger projects, don’t know how any of that will go.
As for the public investment though, the key thing since the last term was disinvestment. They will probably keep it going. Seems like the other supposed policies they plan to push for like agriculture is a trainwreck if it ever takes steam.
western investment to squander
I mean they are not happy about India, russia, iran relations. Specifically the port and now the current meeting with putin.
Not to mention foxconn had huge joint venture which was fumbled by vedanta which is a london based company. Seemed like the parent company had pulled so foxconn did not through with it.
