"\\r\\n<br><p>\\n<h2 class=\\"intro\\">\\nUnion Minister targets Tata group; videos of his address to CII annual meet blocked.\\n<\\\/h2>\\n<\\\/p><div id=\\"content-body-14269002-35902835\\">\\n<p>An unprovoked 19-minute tirade from Commerce and Industry Minister Piyush Goyal on August 12, asserting that Indian industry\\u2019s business practices went against national interests, has left India Inc CEOs baffled, with Mr. Goyal repeatedly singling out the 153-year old Tata group in comments that he said came straight from his \\u2018heart\\u2019. <\\\/p><p>After the Minister\\u2019s remarks at the <a href=\\"https:\\\/\\\/pib.gov.in\\\/PressReleaseIframePage.aspx?PRID=1745241\\" rel=\\"noFollow noopener\\" target=\\"_blank\\" title=\\"\\">Confederation of India Industry (CII) annual meet <\\\/a>stirred up a hornet\\u2019s nest in higher echelons of the government, CII was asked to pull down the video from their Youtube channel. An edited version was uploaded on Thursday night but this had also been blocked by Friday evening. <\\\/p><p>Calling out Tata Sons\\u2019 president for infrastructure, defence and aerospace, Banmali Agrawala, Mr. Goyal expressed deep anguish that Tata Sons had opposed rules to help consumers framed by his ministry. \\u201cMe, Myself, My company \\u2014 We all need to go beyond this approach,\\u201d said Mr. Goyal, who also holds charge of the Ministries of Textiles and Consumer Affairs, Food and Public Distribution. <\\\/p><p>\\u201c<em>Kya aapke jaisi<\\\/em> company, <em>ek do aapne shaayad koi videshi<\\\/em> company <em>kharid li<\\\/em>\\u2026 <em>Uska<\\\/em> importance <em>zyaada ho gaya, desh-hit kam ho gaya<\\\/em>? (A company like yours, maybe you bought one or two foreign companies, now their importance is greater than national interest?\\u201d Mr. Goyal remarked, adding that he had conveyed the same message to \\u2018Chandra\\u2019 (Tata group chairman N. Chandrasekharan). <\\\/p><p>The Tata group did not comment on queries about the Minister\\u2019s comments. Queries to CII had also not elicited a response at the time of going to press. <em>The Hindu<\\\/em> has a recording of Mr. Goyal\\u2019s remarks. <\\\/p><p>While government officials conveying their priorities to business leaders isn\\u2019t unusual, the August 12 episode is perhaps unprecedented as specific attendees were questioned about their business practices with insinuations they were not acting in the national interest. <\\\/p><p>Industry leaders were particularly flummoxed as Mr. Goyal\\u2019s remarks, indicating a troubling lack of faith, came just a day after Prime Minister Narendra Modi assured industry of complete support and <a href=\\"https:\\\/\\\/www.thehindu.com\\\/business\\\/Industry\\\/economy-picking-up-pace-industry-needs-to-increase-risk-taking-appetite-pm-modi\\\/article35856679.ece\\">urged them to take more risks<\\\/a> and invest in the country. <\\\/p><p>Questioning domestic businesses\\u2019 priorities and commitment towards India, Mr. Goyal even challenged Tata Steel to demonstrate if they can sell their products in Japan and Korea, arguing that companies in those countries are \\u2018nationalistic\\u2019 and won\\u2019t buy imported steel. Indian industry, by contrast, would import even if it helped them save just 10 paise in the finished cost of goods, and then lobby to avoid the levy of anti-dumping duties on such imports, he asserted. <\\\/p><p>\\u201c<em>Hum Nationalistic spirit ki baat karte hain, to kai log humein media mein dakiyanoosi bolte hain, backward bulaate hain. Japan, Korea, mein koi backward nahi bulaata <\\\/em>(When we talk of the nationalistic spirit, many in the media call us orthodox and backward. Nobody in Japan, Korea calls this backward),\\u201d he said. <\\\/p><p>These impromptu jibes came in response to innocuous ideas from a few CII members, including Mr. Agrawala who had simply broached the need for a greater emphasis on skilling the youth, and DCM Shriram chairman Ajay Shriram\\u2019s request to help smaller firms that have been hit harder by the COVID-19 pandemic. <\\\/p><p>The Minister\\u2019s remarks on Tata Sons were presaged by the insinuation that Indian firms structure FDI transactions in a manner that violates the spirit of the rules. <\\\/p><p>\\u201cI tell you all to rise above fanciful schemes\\u2026. the ways you are shown to structure transactions, add this caveat and put this structure. This is how the law can be broken, do this partnership that will be compliant of FDI rules\\u2026 Lord knows where the spirit of the rules is, but somehow you squeeze it into the ambit of the rules,\\u201d the Minister said.<\\\/p><p>\\u201cAt least you should resist the greed of these foreigners. You are welcome to do good, honest business. But in wrongdoings\\u2026 when I read names that have entered partnerships with <em>Falana Dhimkana <\\\/em>(anyone and everyone<em>)<\\\/em>,\\u201d he trailed off<em>. <\\\/em><\\\/p><p>Earlier, the Minister noted that \\u201ctoo much profit in a few hands can lead to a lot of problems for a country\\u201c and urged industrialists to not \\u201clet the greed of some deprive the need of many\\u201d. <\\\/p><p>At one point, he expressed disappointment that Indian industry wasn\\u2019t giving early-stage funding for start-ups despite him having \\u201ctalked to Uday (Kotak), Pawan (Goenka), Tatas, Ambanis, Bajajs, and the Birlas\\u201d to pitch in. \\u201cEven if a few don\\u2019t make money, you can sacrifice this much for the country,\\u201d he noted. <\\\/p><p>Hinting that development is also industry\\u2019s responsibility, he referred to undeveloped tribal areas near the commercial capital Mumbai, stating: \\u201cThere\\u2019s a limit to how much the country can tolerate such inequality. There was total resistance when we were trying to get land in Palghar for high-speed rail corridor. Why? They asked: What have you done for us? You are taking our land and getting roads, infrastructure, railways \\u2014 but there\\u2019s no improvement in our life. This could be a cause of worry if people run out patience sometime.\\u201d <\\\/p><p>\\u201cSynergy can\\u2019t just be our policy should come early and we should get incentives. It is a joint and severed responsibility, not the responsibility of government alone,\\u201d Mr. Goyal emphasised. <\\\/p>\\n<\\\/div>\\r\\n\\r\\n<br><a href=\\"https:\\\/\\\/www.thehindu.com\\\/business\\\/Industry\\\/goyal-terms-indian-industry-anti-national-raises-eyebrows\\\/article35902835.ece\\">Source link <\\\/a>"