New Delhi, October 19
The Left parties will not soften their stand on FDI in any critical sector until these results into manufacturing activity for generation of demand, creating employment opportunities and upgrading the technological skills of the domestic industry, said CPM politburo member Sitaram Yechury here today.
Speaking at a discussion on the country’s economic agenda organised by ASSOCHAM here, the CPM leader said the Left parties were firmly of the view that the foreign investors in India had so far failed to create demand by avoiding manufacturing and technology transfer, forcing the Left parties not to review their impression about overseas investors.
Mr Yechury said any FDIs, whether in telecom, insurance or in civil aviation, if leads to increased manufacturing activities and creation of demand as also technology transfer, the Left parties can think of not opposing the FDI in these sectors.
He said liberalisation had not succeeded in improving the purchasing power of rural populace and its impact had largely been confined to urban India.
National Secretary of the CPI, D. Raja, accused the industry of ignoring its social responsibilities to provide employment to weaker sections of society.
