CPI(M) sceptical about promised Japanese investments

CPI(M) today said "nothing tangible" may come out of Prime Minister Narendra Modi's pronouncement that his Japan visit would yield about Rs 20 lakh crore worth of investments from there and likened it with Goebbelian propaganda.
Referring to Modi's statement that over Rs 20 lakh crore would be invested by Japanese firms, senior CPI(M) leader Sitaram Yechury said "very often in the past, not merely such assurances but MoUs amounting to larger numbers have been signed but nothing substantial has come in tangibly".
While it is yet to be seen if any such investments would see the light of the day and "add to the levels of productive capacities in our country", any other type of investment that "only uses our resources, raw material and cheap labour to maximise profits without anything tangible in return would do more harm than good to India," he said in an editorial in the forthcoming issue of party organ 'People's Democracy'.

Yechury said the latter could be a more likely scenario as Japan, after long years of economic slowdown and recession, has just begun to show some signs of a turnaround. "In order to consolidate this, Japan could well take recourse to the latter course of maximising profits from India."
He accused RSS-BJP of conducting "fascistic propaganda on the basis of Joseph Goebbels' dictum: Tell a big enough lie frequently enough for it to be accepted as the truth by the people."
"This methodology of propaganda appears to have become the mainstay of this Modi government and the accompanying communally incendiary issues being raised by the RSS and its various tentacles," he said.