Leading NRI industrialist Lord Swaraj Paul on April 23, 2015, met PM Narendra Modi and extended full support to his ‘Make in India‘ campaign- NDTV. (We also know, Modi travelled in Ambani’s plane all over India while campaigning for LS Election in 2014 and Ambani too joined with others including foreign MNCs to fund that campaign! Money invested is anybody’s guess, but was in Billions). Conclusion is simple, time to reap the fruits of investment!
The acknowledgement of global concerns which are impacting India calmed the BSE Sensex, which had closed below the 25,000-mark for the first time in 15 months, losing 308 points on Monday. Indian Express further adds;-
Markets saw a sharp rebound as PM Modi meets industrialists! Further Report on his address to Industry –
“Urging industry captains to take risks, invest and kick-start the economy, Prime Minister Narendra Modi told them on Tuesday , “when I hear Indian companies are investing abroad and not in their own country, I am really disappointed… if you don’t take risks and invest, then will you take a management consultant’s job at a monthly salary of Rupees 2 lakh.” –Indian Express Sep 19.
As if Indian Companies have ‘freedom’ to invest in foreign markets or Modi’s visit world over has created special space in saturated world market! What a philistine!!
“Prime Minister met 27 top industrialists, bankers and economists at his residence on Tuesday to kick-start a brainstorming session that is likely to focus on stepping up the reform impetus.”– Financial Express .
In a nutshell, the participants at the three-hour long meeting “analysed” the recent global events, their impacts on India and the opportunities in-built in the situation for India! So far our “Super Economists” were waiting for Modi to preside & kick start the proceedings of thinking, investing, using Chinese & world’s recession in India’s “Favour”! This absurdity is being hailed by media, especially by the channels dealing in with market, stock exchange! The result is seen in BSE; in last 2 weeks, it is extremely volatile and though the sum total of plus and minus is not huge but small, yet, medium investors have lost Billions and that has been pocketed by the big financiers! Reliance Industries Chairman Mukesh Ambani, Tata Group head Cyrus P Mistry, Aditya Birla Group head Kumar Mangalam Birla, Sunil Bharti Mittal of Bharti Airtel and ITC chief Y C Deveshwar were among the industry leaders who attended the meeting.
RBI Governor Raghuram Rajan, ICICI Bank CEO Chanda Kochhar and SBI Chairman Arundhati Bhattacharya and economists like Subir Gokaran and Chief Economic Advisor Arvind Subramanian as well as Niti Aayog Vice Chairman Arvind Panagriya were also present. These participants forcibly said, the fundamentals of Indian economy is very strong, so whatever is happening in the market is transient! Enough of quoting, let me start from here, being from Civil Aviation Industry, I know, it is going down, despite ‘fundamentals being strong’, as the progress of Capitalism has entered a Cul-De-Sac and deterioration is visible everywhere! Further, report by media says, “The suggestions also included ones on cost of labour, cost of capital, further emphasis on stalled projects, including Land Acquisition Bill, GST and defensive measures in case where there are clear evidence of dumping.” – It’s happening in entire EU, USA, UK! Reforms, which means, austerity measures; cut in health & education services, cut in public transport & mail services, cut in women’s security, cut in poverty elevation programmes, cut in pension, etc!
Well, there was a news on Rediff.com a few months back, Modi was asking people, if talking to industrialists is a crime? This was in reference to Adani travelling to foreign countries with Modi! Absolutely not! But what is the purpose? Bankers, corporates, politicians, bureaucrats, police, in short, men behind state machineries do meet officially & unofficially over scotch & chicken and plan to “Progress” the nation, raise GDP, increase business & profit and what happens every time? Poverty rises & Corporations become richer! The contradiction between social production & private appropriation deepens!
The Latest: – Modi has landed in New York today! He is to meet investors, CEOs, Murdoch, Face Book owner, etc in New York today (24 Sep, 2015). Media says it is to promote “Make in India”!!!Can’t be more absurd! But it’s necessary for media, sycophants to continue shouting at top of their voices to hide the real economic crises in India!
For less than 400 vacancies of peons, there were more than 23 lakhs application, including Doctors, Engineers, PhD holders, where requirement was 8th pass & trained on cycling! That is the reality of “Fundamentals being strong” in India! Due paucity of space and the limitation of this topic, I will sum up, by directly jumping to solution of such rhetoric, outright lies, which is on rise to ‘satisfy’ the hunger of toiling millions and the counter is only possible by proletarian revolution! It must seize the political power, smash old state machineries, socialise the means of production & means of subsistence!
This and only this will free the productive forces from the yoke of capital and the freedom to work itself out! From the world of wage slavery into the world of self-mastery over their products, present and future!
By KK Singh