This refers to Manjit Singh Kalha's letter "Defending FDI in defence"(June 12). Twenty five skilled jobs for an investment of $1 million is not an attractive proposition in financial economics to invite foreign direct investment. There is an urgent need to scale down defence imports of $5.9 billion during the National Democratic Alliance regime. This is possible if Prime Minister Narendra Modi extends his arms to spread peace among the comity of nations. There are already signs of this on the horizon when he invited Asian political heads to his swearing-in ceremony. Global defence expenditure has to be reduced since it creates only negative demand. Increasing defence expenditure helps only certain vested interests and does not contribute to real economic development.
Guruprasad Rao Bangalore
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