The Hindu Business Line : The choke eases

The RBI has done its bit to unshackle the Indian entrepreneur and industrialists from the chains of bondage to the Indian currency. Investors are being encouraged to explore new markets and compete globally to maximise returns on their capital. It is now the turn of the Government to step in and support the initiative.

In this era of globalisation, we need to ensure energy security and committed linkages to commodities that help us meet our growing needs. This is best done through selective investments, which also translate to export of our capital globally.

We need politicians who will understand the dynamics of the Indian multinationals’ support requirements and guide the policies. They should intervene to nudge friendly governments to grant a licence. They should also provide the bureaucratic support to secure favourable terms for our capital such as sovereign government guarantees, negotiate during bilateral exchanges with the Indian investors capital in mind.

Bulk of our increasing foreign exchange reserves are due to the earnings of Indian diaspora who are toiling away to bring in the riches to the country.

It would befit all their efforts if the governments and Indian entrepreneurs use this capital to further enhance the growth story.

V. Balakrishnan, e-mail

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