Ramesh Criticizes Modi Government Over Declining FDI and Policy Shifts

Congress MP Jairam Ramesh accuses the Modi government of drastically reducing Foreign Direct Investment (FDI) and domestic investment through 'Fear, Deceit, and Intimidation.' He highlights how India lags in attracting global investments compared to other Asian nations during the Biden administration.

In a recent statement, Congress MP Jairam Ramesh criticized the Narendra Modi-led government for what he describes as a crippling decline in Foreign Direct Investment (FDI) into India. According to Ramesh, FDI plummeted to under $1.4 billion between April 2024 and January 2025, a steep drop from the $19 billion recorded from April 2012 to January 2013.

Ramesh alleges that the government has not only stifled foreign investment but also degraded domestic investment initiatives. He jabbed at the BJP-led administration for substituting traditional FDI policies with a framework based on 'Fear, Deceit, and Intimidation.'

While global interest in investing in Asian countries like China, Vietnam, and Bangladesh soared during Joe Biden's presidency, India's allure has waned, Ramesh claims. As of FY 2023-24, the US was India's third-largest FDI source, contributing $4.99 billion. Meanwhile, Indian companies have invested over $40 billion in the US, creating over 425,000 jobs.

Moreover, Ramesh warned about the implications of the Data Protection Act, 2023, which modifies Section 8 (1)(j) of the Right to Information Act, 2005, arguing that it could severely limit citizens' rights to information, previously on par with that of the legislators.

(With inputs from agencies.)