Page 52 - Tehelka Issue 13 - July 15, 2018

column
ASIAN DRAMA
Syed
NooruzzamaN
The columnist — former
Deputy Editor of The
Tribune, Chandigarh —
specialises in foreign
affairs. With a career
spanning 41 years, he
keeps close watch on
issues related to South
Asian countries. The
views expressed are
personal
India is providing
proof that it has
gathered the
capacity to go
by its own larger
interests on
various global or
regional issues
52-53 Column-Nooruzzama.indd 2 03/07/18
Foreign policy initiatives:
India at gain or loss?
Now that the country is getting fast into the election mode with the
Modi-led NDA government having entered in the last year of its
tenure, it is time to have a look at its achievements in various fields
he focus is on Prime Minis- continue to grow as the government has
ter Narendra Modi’s foreign been relaxing the FDI policy with a view
policy initiatives, which to providing an investor-friendly cli-
have consumed much of mate in the country. But the gains can-
his energy and time besides not be described as satisfactory as the
T considerable financial country needed as much as $1 trillion as
resources of the country. Till now (June FDI in 2014, mostly in the infrastructure
22, 2018) he has set his foot on as many sector, as stated by Modi during his first
as 55 countries, including five visits to visit to the US after taking over as Prime
the US and China and four to Russia and Minister.
Germany. The figure for the FDI requirement
According to official figures, the today obviously must be much higher
maximum expenditure he incurred as indicated by the fact that in 2004
during his foreign travel was in 2016 then Prime Minister Manmohan Singh
( 1.52 billion) though he made only eight told an audience in the US that India
trips and remained away from India needed FDI inflows to the tune of $150
for 29 days. In 2015, he made the largest billion for different sectors, but the Modi
number of foreign trips (12), remaining government’s estimate rose to $1 trillion.
out of the country for 57 days but spent However, can foreign direct investors
1.34 billion on these journeys, less than continue to keep their interest in India
the expenditure made in 2016 on this intact in view of disturbing reports from
account. different parts of the country relating to
Modi took over as Prime Minister the missing fear of the law as indicated
on May 26, 2014, but during the seven by increasing incidents of rape and
months in his first year as the head of lynching of Indians by Indians on vari-
the government he spent Rs779 million ous pretexts. Overseas investors, obvi-
on his seven trips to overseas destina- ously, cannot feel confident of bringing
tions spreading over 35 days. Compared their capital to a country which suffers
to this, his expenditure on foreign trips from social peace and a major law and
(seven trips for 32 days) in 2017 came order problem.
down to 765 million. The figures for Now let us have a look at the foreign
the current year are not available, but policy gains in terms of improvement
the number of the countries he has in India’s relations with its neighbours
visited till the middle of June indicates
and major countries of the world. On
that the bill for 2018 will also be quite May 26, 2014, when Modi had taken the
substantial. oath of office as Prime Minister he gave
At the end of it all, what are the gains
a clear indication that improving ties
for the country? It is learnt that foreign with the countries in India’s immediate
direct investment (FDI) inflows to India neighbourhood, as part of our “Neigh-
bourhood First” policy, would be given
during NDA rule have been of the order
of $31 billion in 2014-15, $55.5 billion in top priority. But today one finds that the
achievements made on this front are
2015-16 and $60.8 billion in 2016-17. Re-
ports suggest that the FDI inflows would not in accordance with the expectations.
Tehelka / 15 july 2018 52 www.Tehelka.com
4:06 PM