CPI(M): ‘Make in India’-Motto is to Maximize Profits not Productive Capacity

modi

On Thursday the CPI(M) attacked Prime Minister Narendra Modi for converting the ‘Made in India’ motto to ‘Make in India’.

The senior CPI(M) leader Sitaram Yechury said that, “In his first Independence Day speech, Prime Minister spoke of making India an industrial hub by declaring ‘Made in India’ as our motto. In the US, he spoke repeatedly of ‘Make in India’.

He further said that, “The former is propagated declaring the strengthening of India’s domestic industrial base, while the latter is an open invitation to foreign investments, particularly US investments. Their main objective always remains profit maximization and not augmenting India’s productive capacities”.

He also said that, India is getting ready for further economic liberalization by opening of its markets, resources and cheap labor, “for profit maximization. This is the surest recipe for imposing further hardships on the Indian people”.

Further, he said a fall in the inflation rate “does not mean a fall in the prices. What it means is that the rate of rise in the prices is lower than what it was. Prices are nevertheless rising.”

Medaram Jathara

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