The difference in approach on the increase of FDI in Defence has come out. Commerce Minister Anand Sharma had announced yesterday that FDI in  Defence sector is proposed to be increased from 26% to 49%. The earlier proposal was, as reported, to increase to 74%.

As per the latest reports, Defence Minister A.K.Antony has strongly opposed the proposal. See the following report:

‘In a note to Mr Sharma, the Defence Minister has argued India “cannot afford to be dependent on foreign companies and vulnerable to policies of their countries of origin”.  He also says “Allowing foreign companies to set up manufacturing/ assembly facilities here would be a retrograde step as it will stymie the growth of indigenous design and development.”‘

We fully support the stand taken by the Defence Minister opposing the increase in FDI. There should be nation wide protest against this ‘retrograde step’  to increase the FDI in Defence.

The pertinent question is whether Mr. Antony will be able to withstand against the pressure of the PM as also MNCs or succumb to the pressure.

Whether Communications Minister Kapil Sibal will take a similar stand against increase  in FDI as Defence Minister  A.K.Antony has taken?