Modi's economic vision is political plagiarism: Sharma

Tags: News
Hitting out at Narendra Modi, Commerce Minister Anand Sharma today said the economic vision of BJP's Prime Ministerial candidate is nothing but "political plagiarism".

Modi, he said, revealed nothing new in his economic vision for India and only rehashed the UPA government's achievements.

"What is being claimed as a vision (by Modi) is political plagiarism," Sharma told reporters here.

The minister also said the Gujarat Chief Minister's claims on investment figures during Vibrant Gujarat Summits were highly exaggerated.

Sharma said if one adds up investments committed during the summits, they would exceed by manifold FDI inflows into the entire country.

Citing the Reserve Bank data, Sharma said Gujarat received only $ 9 billion in FDI (between April, 2000 and December, 2013).

Maharashtra received the highest FDI during the said period ($ 65 billion), followed by New Delhi ($ 38.8 billion) and Chennai ($ 12.6 billion).

He said Gujarat had claimed in 2011 that during the summit the state inked 7,936 MoUs worth $ 450 billion and 675 MoUs. In the previous summits also, Modi had claimed multi-billion dollar FDI proposals, Sharma said.

"Just add it (the numbers). This is a multiple of at least 5 or 6 times of India's total FDI. The total FDI received by India is $ 296 billion (so far)," he added.

He also said when NDA demitted office (in 2004), India's exports were to the tune of $ 78 billion and now they have crossed $ 300 billion.

"Perhaps Modi is not familiar with (the current figures). The numbers are there in the record. I don't want to get into 'tu tu mai mai'...I do not expect him to be knowledgeable or to have the humility to appreciate the achievements but the criticism is in conflict with the numbers and facts," Sharma said.

He said that during the last four years, India received $ 176 billion in FDI and India has become one of top destinations for foreign investments.

He said BJP has impacted the country's investment climate by saying that they would roll back the FDI in multi-brand retail policy.

EDITORIAL OF THE DAY

  • Mob rage against the Tanzanian woman betrays racial and gender prejudices

    The mob rage in Bangalore against the Tanzanian woman is a national disgrace from which we can never recover even if we punish the wrong doers.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sachin Shridhar

VIPism is casteism by another name

Much has been written and lamented about the all-pervasive VIP ...

Zehra Naqvi

‘What if the British never came to India?’

Legendary Canadian writer Margaret Atwood proves as elusive to the ...

Bubbles Sabharwal

It's the life in your years that counts

We are all in a sense pilgrim souls enjoying the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture