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Journalism of Courage
HYDERABAD, Dec 6: Bajaj Auto Limited CMD Rahul Bajaj today advocated that the government should list out certain areas where foreign equity would not be allowed beyond 40 per cent to have more clarity in its globalisation policy.
8220;Keeping both the customer and national interest in view, we must make a list of industries in which we would not allow foreign equity in excess of 26 to 40 per cent to enable India have its own supremacy,8221; Bajaj said while delivering a lecture on Globaliation and its implications for Indian industry8217; here.
8220;This is how most of our large companies in the next 20 years would not become foreign owned and controlled and the government should spell out its policy in more clear terms to remove doubts in the minds of people and investors. Steel, paper, cement, sugar, textiles, automobiles and soft drinks are some of the industries where we can get all the technology needed without giving majority ownership to foreign companies,8221; Bajaj said.
The government should create a conducive environment for economic activity , he said.
