West Bengal Chief Minister Mamata Banerjee expressed “deep anguish” over the UPA government’s move to increase foreign direct investment (FDI) in certain sectors including telecom, defence and insurance, and blamed the Centre for “putting the lives of poor people and the nation’s security in grave danger.”
“By increasing FDI in defence, we are compromising on the safety and security of the nation. It is a myth that a FDI hike will transfer technology to Indian companies. There is a 'Technology Denial' regime which does not permit the developed world to transfer defence technology,” posted Ms. Banerjee on her social networking website in the late hours of Tuesday.
The Trinamool Congress which withdrew its support to the UPA government in September 2012 after the Centre introduced FDI in the retail sector, said that the increase in 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,” Ms. Banerjee said.
