Japan has proposed to infuse its capital to the tune of $42-bn in India. This is indeed a very welcome thing to happen for two reasons. First is the very basic thing, and that is, Japan is a friendly and democratic country. Secondly, basically, foreign capital is meant for setting up large industrial units and business operations. That is its direct benefit as it adds to the national GDP and provides employment to the scores of people. These big units also cause the mushrooming of numerous ancillary units largely set up by domestic entrepreneurs. Thus, it catalyses domestic industries and businesses to grow. Along with this direct benefit the breadth of good it does to any country is difficult to map. I mention a few of them: it means an infusion of high-end technology and knowhow, managerial and business skills, more efficient work culture on the one hand and on the other, it also means better provisions for the countrymen in terms of commodities and services, and more moolah out of exports. More generally, the intensified economic activities of scale and surpluses so created lead to the betterment of public life. A country in which foreign capital is invested on large scale is cared for by the international community too as they have a stake in the stability of the country. Capital irrespective of its origin, domestic or foreign, does other things more profoundly but unseen, and that is: it promotes rationalism and humanism in any society. Internationally, it cements differences and engages countries in cooperative relations. It is better we become more capital friendly overcoming the EIC syndrome and the Bolshevik trained psyche.
Niraj Kumar Jha
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