harbans wrote:Upendra, i'm not going to post any further on this. You already have a closed mind.
Dont post, but your boss wont be happy, afterall lobbying pays your bills. mark my words, you will come back spouting how-FDI-will-save-India line
harbans wrote:You've already made your mind up about how NASA, Masons etc will gobble and devour everything.
You fail both at mind reading and in understanding other people posts.
harbans wrote:I am not a psychiatrist here to repair minds.
Certainly you need one
harbans wrote:All i know is simple, if we take the examples of developing countries that provided a stable political platform and welcomed FDI, they all have developed and prospered. Examples: Japan, Korea, Taiwan.
Wrong, first they developed their home markets and then opened up. By stable political platform i guess you want to emulate the dictatorial political model, if yes then i suggest you move somewhere else.
harbans wrote:Also i know since India opened it's doors to FDI and initiated the first set of reforms in 91 (people like you then also tirelessly opposed it for exactly the same reasons you dole out now: NASA, Masons, Jews, secret cabals etc),
Those were not reforms, IMF and World Bank dictated economic changes that we had to implement in order to get loans they promised. That is called extortion. I never mentioned jews, you subtly insert it to try to play the anti-semitic card, pathetic liar.
harbans wrote:India has achieved a dynamic not seen prior 50 years and come out the so called 'Hindu rate of growth'.
Another catch word to initiate the guilt trip and get people opposing FDI to go on the defensive. listen you brainwashed moron, the term "Hindu rate of growth" was invented by a communist economist. Commies ran indian economic policies for the last 50 years and still run it, check the moronic schemes they have concoted, NREGA and like. If anyone is singly responsible for the sad state of economic affairs its the commies, so better start saying Commie rate of growth, or if that's not suitable for you how about sikh rate of growth, since sikh manmohan is running indian economy. Now how does that feels? Hurts isn't it? to be accused for no fault of yours. If you throw that catchword of yours again, i will throw mine, so be careful next time.
harbans wrote:Obviously only a retard will look to ending FDI. Only a retard would want to go back those pre 91 days. Only a retard will not see the benefits that have accrued since then and why. Only a retard will not understand what is being missed.
You are the one who wants to handover control of Indian economy to foreign interests and calls other retard, how moronic of you.
harbans wrote:And 'Retard' here is a mild word. Those who hamper growth and reform by espousing left economic policy and isolation, surely deserve to be called treasonous if not retarded. The Commies do have a record of being such. And your point of view on FDI is completey in synch with the commie.
Treason and retard, your pet words that you keep spouting for furthering foreign interests. Its your guilt conscious reflecting in your posts, you very well know who the real traitor and retard is.
Something for you to chew on. Every nation is protecting their home industries while you and your buddy babus are destroying ours.
Asking for fair play, not protectionism: AM Naik, L&T http://economictimes.indiatimes.com/opi ... 088926.cms
After the dismal factory output data added to the general gloom, ET NOW caught up with L&T boss AM Naik to make sense of the numbers, and what they mean for the industry and economy, going forward. Excerpts:
The data for the factory output for October has just come in and the capital goods sector has been the worst hit, a contraction of 25.5%. What do you make of these numbers?
Well, I had expected it because for the past one year I have been saying that the GDP growth will not exceed 7%, and now I'm doubtful whether the GDP growth next year would even be 6%. The reason is that as a capital goods manufacturer, project companies get to know first whether the future looks growth-oriented or not. Because people make investment a year or two ahead of what they need to because project implementation takes time -one, two, three years. So I had expected it. I have been saying since a year ago that industrial growth is slowing down, GDP is going to slow down, and had it not been for agriculture, it would have been far worse.
And this is bound to happen when the country's policy has gone beyond even the most advanced countries. If you really take a look at all the countries today, because of negative growth in majority of the world, they have become increasingly indigenous-manufacturing oriented. Take the case of Malaysia for instance -- almost everything in the trade agreement with them provides for importing from Malaysia with zero duty, whereas at the same time we cannot even compete there because it is only for domestic companies.
Saudi Arabia, for example, gives preference for local manufacturing. In its new policy, the country allows only local companies to bid for projects up to Rs 5,000 crore. And beyond Rs 5,000 crore, there will be a global pitch. We have everything now at zero duty, everything. And everything comes from China. I have been very vocal for the past three years on the issue of power plants being imported from China. Today, we have already completed imports for 12th and 13th five year plans.
When you follow such kind of policies when the rest of the world is becoming - I don't want to use the word protective - but more and more conscious of what is made in their own countries. We have the lowest duty in the world. Even Gulf countries have 12% duty. China has 30% duty. I'm not asking for protectionism, I'm asking for fair play. When you have a currency which is manipulated by China to the extent of 30% undervalued, no Indian company can compete. So it was expected, and I have been taking it up for three to four years, but nothing happened.
You mentioned that the capital goods sector is a very good barometer of what future growth will look like. What is your sense of what FY13 will look like for the capital goods sector and also the economy?
Next year - FY12-13 - it may go down to 6%, and unless there is some drastic action, which I doubt because of the current political situation, things may not look up. If it is not done - and obviously we need 12-18 months lead time before we get into production - FY13-14 could be equally bad. So, I think companies are being forced to look outside India. At one time, we were saying we don't have enough capacity, two years ago we were looking at growth of 9%. Today, there's idle capacity in most industries. Companies which will adapt faster outside India can survive.