Fernandes for probe into MNC exports

"It has been seen that instead of exporting manufactured products from the country, these companies have been fulfilling their obligations by exporting commodities like rice, which is sourced from other companies", he remarked.

"All such practices should undergo strict scrutiny by the government and in case they are proved to be a breach of law they should be dealt with equal seriousness with which similar cases are dealt with in western countries", he added.

Fernandes clarified that histarget was not any specific company but "all those who were carrying out such malpractices which includes fudging of figures".

He sought to allay the fears of MNCs, saying that they have nothing to fear provided they follow the letter and spirit of Indian laws, do not indulge in corrupt practices and are ready to operate in a scenario where there is a level-playing field for domestic companies.

"I have been identified with the ouster of Coke from the country. There was nothing wrong with asking Coke and IBM to leave the country. They refused to reveal the formula and I was well within the law to offer them the option to leave the country", Fernandes said. He felt that the indigenous entrepreneurs should be encouraged to take initiative in sectors like soft drink for which adequate government support should be provided. "Be Indian, buy Indian is going to be the thrust of our policy. We will launch a swadeshi campaign to raise awareness about the need for forgoing jazzy products like Pepsi and Coke", hesaid. Fernandes, however, pronounced a more cautious approach regarding the inflow of investment in other fields.