Obama's double standards
1 0 0 0
In this backdrop many sections of the media, intellectuals and the policy makers, who are pro-economic reform, started insisting on the faster pace of reforms in the economy. Enthused, by this chorus, our share market index too, has shown an upward spike for some time and the value of our currency Rupee picked up against the U.S dollar. It is now in this backdrop, the U.S president Obama, today expressed his concern regarding the deterioration in the investment climate of India. His concerns indicate the feelings that the foreign investment is finding it hard to enter and operate in India. Now, let us turn back a little to the cover page story of the latest issue of the ‘Time’ magazine. It has depicted the Indian Prime minister as an ‘underachiever’ What does all this clamour do mean. Why, so much of steam is being vented out, onto the Indian policy matters, by the American media and the ruling section. Does it all really mean in the interest of our country or else the agenda is something different. When we look into the hard facts truth does emerge. U.S president Obama who now takes a dig at the Investment environment in India, is the person, who is resorting to the protectionist policies, when it comes to his country. He and his team are orchestrating the policies that do create obstacles to the US outsourcing of jobs. Obama wants the jobs created by the companies on the U.S soil to be exclusively meant for his countrymen. He does not want those jobs going out into the other countries, by means of outsourcing. In fact the news reports that came out during his visit to India demonstrated that, many Indian companies are creating jobs in U.S, whereas on the other side Obama wants the U.S jobs for the U.S citizens alone. So is the case of the Nuclear deal, made by U.S with India in 2008. Whereas on one side the entire world is trying to move away from the nuclear energy, particularly after the Japanese nuclear accident, the U.S wants to push down our throats the civil nuclear technology. In fact Obama himself had warned against the dangers of nuclear technology, in his 2012-13 financial budget for the energy sector and tired to promote the alternative energies like the solar energy for the power needs of U.S.A. This shows the double talk of the leader of the only ‘Super power’ of the world. He wants jobs to be created in his economically troubled country, where unemployment is soaring. But, when it comes to the question of the employments of the teeming millions of Indian’s, he is just silent on the issue. The present statement of Obama has mentioned about the foreign investments in the Indian retail sector too. It is a known fact that, the bill for the multi brand FDI, now stays stalled in India, because of the protests from the people and the resistance put up by the opposition parties. It is worth remembering that the livelihoods of more than 4 crore people in the country’s retail sector are at stake; given this bill was allowed to pass in our parliament. It is already the experience of many countries, where in the retail giants like the Wal-Mart have found an entry. In all those countries vast number of jobs were lost, as a result of the business practices of these retail giants. Even the country of origin of Wal-Mart i.e. U.S.A too does now abound with the protests against it. Hence the attempts to prod India or its P.M, for more reforms, in the unwanted sectors, are condemnable. India needs reforms. But these reforms should help us get the up to date technology from the foreign countries and as well generate employment to our vast pool of youth. But, they should not turn India into just a market that consumes whatever the foreign multinationals produce or sell. This should be our guiding principle, in going ahead with the ‘India friendly’ reforms.