FDI in the wrong places

FDI in the wrong places

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FDI in multi-brand retail okayed because it is going to create jobs, while it is
going to make kirana shop owners go out of business. So, now kirana entreprenuers have
to learn English and be sales boys at Walmarts or at best be suppliers to walmarts.

Manmohan's UPA sucks. It is Without any policy of what to allow FDI in and in what not to.

As it is, in the IT industry, everyone has been turned into an outsourcing shop
or a coder
for MNCs. There is no product industry in IT. There is
no funding available for innovation or products. India's best IT products are online
shopping malls and we are saying our IT product industry has finally come of age.
With no insult meant for the online shopping mall entreprenurs --- every entreprenuership
is tough --- what saddens me is that today
there is no value for technological innovation in India. If one has to give oneself
a shot at a high tech product startup, silicon valley in the US is the place to be in.

Even in other areas where thousands of crores of public money is being spent, there is
no innovation or research. For instance, the UID project that spends thousands of crores
on a biometric technology product does zilch research in biometrics. Consider someone
from India who has done a PhD in biometrics; he will have to leave the country. The
same is with the nuclear power industry.

For one of the largest mobile industry in the world, except Tejas Networks, there are not
many
Indian companies worth their name that make serious equipment for mobile networks. And
for one of the biggest banking industries in the world, almost every prodcut bought by
banks
is either from a US company or some other place abroad.

Consider fabs needed for chip manufacturing; India has zero fabs and we
import all our hardware from china or elsewhere.

Who is making our technology policies? Do they have any vision?

At this rate, we are setting ourselves to be clerks of the world and on top patting ourselves
on our backs.

We need to have a policy where foreign investors need to be given incentives for funding
innovative product ideas in India. We need policies that give concessions to those having
founder-level shares in startups.