CITU Opposes FDI in Defence Production

THROUGH a statement issued from New Delhi on May 31, the Centre of Indian Trade Unions (CITU) strongly opposed the Modi government’s move, as reported by the media, for allowing 100 percent FDI in defence sector. Such a move is totally detrimental to the interests of the indigenous defence production network, mainly under government departments and public sector undertakings (PSUs), and also to the national security management and preparedness. The CITU said this move would directly give a push to disinvestment or privatisation of the defence PSUs and ordnance factories via the corporatisation route, which had been so long successfully resisted by the united trade union movement in the country as well as all the defence sector federations including those having allegiance with the political party in power.
The CITU also expressed its deep concern and strong opposition to the overzealous drive of the government to push through disinvestment of shares in highly profit making PSUs, mostly in the strategic, infrastructure and natural resources sector of the economy. As reported by the press, the government has reportedly taken up as its priority agenda the move to offload its residual stakes in the aluminium major BALCO and also to expedite the disinvestment in other blue-chip PSUs that were already shortlisted by the disinvestment department of the previous government.
The CITU has urged the government to take serious note of the unanimous opposition of the working people of the country, who actually create products and services for the national exchequer, to such disastrous exercises of disinvestment, privatisation and unrestricted entry of FDI. Such opposition has been voiced through numerous agitations by the united platform of the entire trade union movement in the country, irrespective of affiliations and political allegiances, during the last five years.
The CITU has demands that the government to restrain itself from such moves which are detrimental to the interests of the people as well as of the national economy. It urged upon all the trade unions and working people to unitedly voice their opposition and put up resistance to such disastrous moves.

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