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Govt should come out with white paper on FDI: SJM

Government’s plan to attract FDI faces stiff opposition from RSS-affiliate Swadeshi Jagran Manch (SJM) which has demanded a white paper on the issue, claiming there have been more outflows than inflows.

The Manch also has concerns over government’s “Make in India” mission and e-commerce, saying it will hurt the country’s interests and there is need to promote ‘Swadeshi’ products.

“Swadeshi Jagran Manch demands that the government comes out with a white paper on FDI,” its national convener Ashwani Mahajan told a news agency.

“FDI is not a panacea of all ills. It is not a solution for all problems. FDI has done bad and good to the economy. There have been more outflows than inflows of FDI. In 2013-14 alone while there has been 21.5 billion USD inflows, there has been an outflow of 34.4 billion USD,” he said.

Mahajan said the Manch will put forth its demand before the government and also bring it to the
notice of Prime Minister Narendra Modi.
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