India Inc upset |
Following the liberalization of the domestic economy with Indian industrialists finding themselves unable to compete against foreign companies and asking for parity, is once again back in the lexicon of India Inc. A handful of such demands for parity have come up of latefrom eminent industry captains such as ITC chairman Y C Deveshwar and RIL chairman Mukesh Ambani, who flagged a few instances of preferential treatments being doled out to multinational companies in a recent meeting of industrialists with Prime Minister Narendra Modi. But the most recent such charge is against Foxconn, the world`s largest electronics contract maker, where a leading industrialist believes that the Maharashtra government has gone the extra mile to seek $5-billion, or Rs 33,000-crore, investment that could create50,000 jobs in the next five years. It involves larger capital investment subsidy, loans at lower interest, land availability at multiple locations, a smart city and even an airport with suitable green channel operations - measures that one top industrialist said was never made available to an Indian company.
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