This is just handwaving of the highest order. Indian "genius" will save the day, the new Govt will wave a magic wand etc, as versus concrete policy and hard nosed execution.Cosmo_R wrote:I have a higher confidence in the ability in the genius and perspicacity of Indian entrepreneurs and this new Modi government than the average person. I stand guilty.
Pointless comparisons again. Nobody here is saying that India doesnt need cars, mobiles or whatever irrelevant comparisons you bring in.I have heard this 'tangential' argument since 1974 when it was argued India did not need cars, phones or whatever because we first had to do something at the village level. "We are different you see..."
What is being said is that if India IS buying weapons at huge costs, then the factory that builds those weapons should be owned by Indians so that the next generation of weapons is also Indian or at least part Indian, and the entire weapons industry in India does not become an import sink.
I also note you deliberately side stepped the security loopholes in your policy prescriptions & how they'd expose India to the strategic activities of other establishments.
Clearly, you are ok with that - I am not. I have no faith in other nations security establishments deciding what is good for my national aims and what is not.
Actually, this is our money at risk, Indian money, paid by Indian taxpayers, which is being used to buy arms at prodigious quantities. We wish for this money to be utilized for India's interests. And there are many firms already willing to enter into agreements to access that money at even 26% FDI.It matter little what "kind of economy" we are in anyone's opinion. Fact is we have to make a huge leap and it won't be done by people who don't have money at risk"
Again, this huge leap business is just rhetoric.
It doesn't take much of a leap to go from a L&T making nuclear submarine hulls to a L&T making small arms.
It takes good policy. Not "faith in Indian genius, perspicacity" or whatever.
And why should I not point out to SoKo that I will purchase from them if they manufacture those ships in an Indian owned yard and SoKo is perfectly free to invest in it upto 49%. If the deal is big enough, SoKo can come in.We are talking about FDI. If SoKo wants to (and I know they want to) invest 100% in a shipyard to build XYZ that would build civilian and military vessels at their own risk why would I stop them?
We are getting delivery of
http://www.newindianexpress.com/states/ ... 264258.ece
They were built in Abu Dhabi. 100% non FDI
Next, I see you completely sidestep the issue that why would SoKo do any investment in a partnership in India, when it can set up a completely self owned subsidiary and prevent any future competition from developing via passing technologies to a partner.
The exact point a pvt executive noted about the SoKo - L&T deal.
Yes, I see denial a lot actually, especially if I were to analyze your soft corner for anything and everything western as versus India's traditional weapons procurement partners and how you loftily dismiss all concerns to the contrary, so lets not go down there, shall we?It can be argued that everything is tangential when one is in denial.
Fact remains, that your faith in "Indian perspicacity" is not a policy prescription given that similar lofty sounding rhetoric was used all the time from RG's time to excuse the worst decisions.