Self-reliance: Key to face Chinese aggression at the border and in business

Written By: Palki Sharma WION Web Team
NEW DELHI Published: Jun 16, 2020, 11:54 PM(IST)

File photo: Prime Minister Narendra Modi (L) shakes hands with Chinese President Xi Jinping. Photograph:( Zee News Network )

Story highlights

In a move to protect India companies from the predatory threat from foreign (Chinese) companies, govt has tightened its foreign direct investment (FDI) policy norms in listed/unlisted companies.

At a time, when the sentiment is growing in India to boycott China-made products over tensions in Indo-China border and Beijing's mishandling of coronavirus, as a nation we must say that it is not practical immediately.

Not until India can create compelling domestic alternatives.

In a move to protect India companies from the predatory threat from foreign (Chinese) companies, govt has tightened its foreign direct investment (FDI) policy norms in listed/unlisted companies.

But India is handing over its construction projects to Chinese firms. This is for a tunnel near the national capital. The company is Shanghai Tunnel Engineering Co Ltd (STEC). It has emerged as the lowest bidder to carve an underground tunnel in the national capital region.

Five bidders participated in the process, including India’s Larsen & Toubro.

STEC made the lowest bid at Rs 1,126 crore and L&t had the second-lowest bid at Rs 1,170 crore.

Now, demands are being made to give the contract to an Indian firm. Financial gains of a few crores today could jeopardize national security tomorrow. No doubt, the Chinese company's bid is backed by the Chinese government.

Countries usually get carried away by such cheap Chinese services and -- lose sight of national security. Countries also lose self-reliance, their domestic companies lose the edge and in time, they start losing projects in every bid.

Prime Minister Narendra Modi has called for self-reliance as a way to overcome the ravages of the pandemic. Self-reliance is a way to get the economy back on its feet.

Self-reliance can also be a way to overcome the Chinese aggression at the border and in the business.

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