This refers to “Taking cover” (March 9). It argues for less restrictions on foreign investment and says the government is being short-sighted by doing this. This is an old argument — it is argued, to cite one instance, that import duties on Chinese goods will make things more costly for Indian citizens and are, therefore, a bad idea. But what is not kept in mind is that the Chinese firms are competing unfairly through lower interest rates and subsidies from the government.
Also, if countries like the US can prevent foreign firms from buying local companies on security grounds, then what is wrong with India doing the same thing? The Chinese have a strategic interest in capturing lucrative Indian markets and it is the government’s job to ensure that country is not allowed to hurt Indian industry.
Jawahar Gupta, New Delhi