Saturday, Sep 13, 2003
Saturday, Sep 13, 2003 |
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Business
WHEN the occasion demanded, The Hindu has not shied away from taking a bold nationalist stance in its editorials, especially on economic issues. Take the cotton mill industry. It was hit hard by cheaper imports of British textiles. Understandably, the industry cried for the abolition of excise duty to enable it to ward off import competition. However, the way it went about seeking redress came in for flak. The daily pointed out in an editorial: "The procedure adopted by the Bombay mill owners in sending a textile businessman to England with a mission, the details of which were kept secret, seems to us to be highly objectionable. We should think that in the matter concerning vital questions of fiscal policy, it was the duty of any businessman, who at the same time claims to be a responsible citizen, to consult the country first and not to confront it with a pact arrived at between the cotton industry here and the proud mill magnates of Lancashire overseas." It went on to add that "the Bombay mill owners would appear to be bent on securing the co-operation of Lancashire no matter what the cost of that co-operation is to the country. They have offered preference to Manchester before Manchester asked for it."
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