Cheap Tricks and selling out: Foreign Direct Investments & Bohemian Patience

                Growing up in the 21st century, most of us have realised that things are never as they seem. When one takes anything on its face value, one does so at his or her own peril. The recent introduction of the Foreign Direct Investment in equity has been packaged by the government as one which is productive for the economy and the industries of the country as well as its citizens. Yet, it has to be realised that no matter how attractive an inflow of  FDI may be, the outcomes are not as glamorous as the Congress would have us believe.
                Its a lot like a recent, for the lack of a better word, relationship that I got out of. It was again all glamor. Someone to talk to, someone who would invest time into me, just me. Yet, the consequences left a lot to be desired. In fact, it left me hollow in places that were initially whole.
              This isn't a ranting, but is me trying to communicate what I understood of the introduction of the FDI in equity in the best way I can. Lets look at the facts as laid out by some of the parties involved. The congress of course, pointed out to all and galore that FDI would bring in the necessary monetary support that is needed by the economy, so that the growth potential is reached. The Bhartiya Janta Party on the other hand opposed it claiming that it would weaken the economy in the long run, as the policy allowed for Foreign agencies to gain control of the market and therefore control of the industry. Is India therefore, not welcoming a rerun of what took place on Wall Street? Is Dalal Street going to be the next victim?
                     The same was asked to me, by my friends as I plunged into the deep end of the pool as far as the relationship was concerned. The person was known to be practical, a player, a self-praising, over-bearing (lets use it!) ass. But I was charmed by his suave moves, his smooth demeanor and threw caution to the wind.   Let me tell you, it didn't do me any good.

                       Coming back to FDI, the Left in the country, obviously, is opposed to it. But before we rush to say the Left is crying wolf again, lets listen to what they are saying. The fact remains that the control of the markets will go to the foreign investors as the FDI quotient increases. Also, the strain on the economy in the long run cannot be denied. The dividends will be drained out of the economy into foreign lands, leading to a bigger monetary crunch than what the country is facing today. India is unable to invest in other economies at the moment. In fact Indian traders have just recently been told to stay away from China hub after two traders were tortured. The government with this move has backed India into a corner. and it will be more than just difficult for the economy to recover if effective checks are not placed on FDI immediately.

                       I, unluckily forgot to place any checks on myself, and did unfortunately crash and burn. As usual, there was an agenda there, which I was too blind to see. The calls, the meetings all were a build up to absolutely nothing. Questions had vague answers with big words such as bohemian patience thrown in to keep me satisfied. It was only when I could no longer ignore my stupidity that I realized that cutting my looses was the best deal. My relationship wasn't a leather bag, it was a cheap Chinese imitation of one.
                        If our government is intelligent, our industrialists cautious and our citizens inquisitive, we might be able to "control the FDI" as our honorary Finance minister Pranab Babu would have us believe is possible.  Here's hoping it won't leave burn marks on the economy and effective ceilings and checks are placed on the FDI. A consensus is required and the economy needs long term responses not short term cheap saving like my relationship was.