FDI will not bring foreign technology: Govindacharya



Rajkot: Terming the union government's policy on foreign direct investment as "destructive for the country", former BJP ideologue K N Govindacharya today said it would only bring foreign capital but not the technology, and was "unwanted".

"I believe that union government's policy to allow foreign direct investment in retail business is destructive for the country, because it won't bring technology...Only foreign money will be invested in Indian markets," Govindacharya said, talking to reporters here today.

He was here to deliver a lecture.

Terming his visit to poll-bound Gujarat as non-political, Govindacharya said he had no interest in the active politics.

"I have no interest in active politics as I have been working to initiate creative and agitational programmes since 2003 to reform politics in India," he said.

"Democracy in India is in danger, as political parties have lost their ethical moorings and have nexus in various scams," he said, adding that Indian democracy had now become "corporato-cracy".

The battle against corruption could not be won without empowering the Election Commission further, he said.

He also said that Electronic Voting Machines were not tamper-proof, and ballot paper was a better option. Japan, where the EVMs are manufactured, does not use them, he claimed.

Talking about Anna Hazare, Arvind Kejriwal and Baba Ramdev, he praised their movement against corruption and black money.

PTI