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November 29, 2014

Amit Mitra criticises Centre’s move to hike FDI in Defence

Amit Mitra criticises Centre’s move to hike FDI in Defence

West Bengal Finance and Industry Minister Dr Amit Mitra criticised the Centre’s decision to gradually raise the FDI in defence manufacturing to 100 per cent saying that it was like “putting the cart before the horse.”

Speaking at a CII session in the city on industry defence linkage, Dr Mitra said that the move would bear no fruit until and unless the developed countries such as the USA had “dismantled the technology denial regime” that restricted the transfer of defence technologies to emerging nations.

“As regards the USA, till six years ago, out of the 14 groups of defence technologies, there was bar on the transfer of 10 under the technology denial regime and there were qualifiers on two more. This effectively left only two groups of minor technologies that could be transferred to India,” Dr Mitra said.

“I am told that there have been some improvement on this front (as regards the relaxation on number of technology transfers) but even the defence experts do not know what the exact numbers of denial now.”

Dr Mitra said that his party, the Trinamool Congress, had “independently and separately raised this important question” while opposing the 100 per cent FDI in defence manufacturing.

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