MR NAYAN Chanda argued that if Indian Prime Minister Narendra Modi wants local firms to be the best in the global marketplace, "he has to start by first allowing them to compete against the best foreign firms inside India" ("Modi's 'Buy India' move a step backwards"; last Tuesday).
This is the kind of rhetoric we hear from those who are technologically and industrially ahead.
What if Indian firms are too far behind and just not competitive? They would be mired in the "dark ages" while foreign firms profit on their soil. Would this not increase the inequality between the haves and the have-nots?
Mr Chanda further suggests that transparency and accountability can be enhanced only by being a party to the World Trade Organisation's Agreement on Government Procurement (GPA).
Transparency and accountability are key to good governance, whether a government is part of the GPA or not.
Fortunately, in the field of government procurement, a practice known as "offset" can right the inequity brought about by those who are ahead.
Foreign firms that seek to profit in another country should consider playing their part and help to enlarge the economic pie for the host country and its people.
David Hew
This is the kind of rhetoric we hear from those who are technologically and industrially ahead.
What if Indian firms are too far behind and just not competitive? They would be mired in the "dark ages" while foreign firms profit on their soil. Would this not increase the inequality between the haves and the have-nots?
Mr Chanda further suggests that transparency and accountability can be enhanced only by being a party to the World Trade Organisation's Agreement on Government Procurement (GPA).
Transparency and accountability are key to good governance, whether a government is part of the GPA or not.
Fortunately, in the field of government procurement, a practice known as "offset" can right the inequity brought about by those who are ahead.
Foreign firms that seek to profit in another country should consider playing their part and help to enlarge the economic pie for the host country and its people.
David Hew
