New Delhi: When it comes to foreign investment, the average Indian citizen and the voter have two views. He welcomes this as a positive for India, but at the same time is wary of foreign investors.
This information has been received from the findings revealed in the IANS-CVoter consumer tracker.
This dual view of Indian citizens has come to light during a nationwide survey conducted by CVoter during the third week of October, 2021. China and Chinese investment were the only areas where there was no doubt. There was a clear distrust of China among Indian citizens and they do not want excessive Chinese investment in the country.
Only 10.3 per cent of the respondents want foreign investment to be allowed free entry under the open market route. About 56 percent of the respondents want India to be protectionist and impose restrictions and controls on foreign investment, while 31.2 percent want India to partially allow foreign investment with stricter rules.
The survey said that India has become one of the largest recipients of foreign investment in the world. About 72 percent of Indians found it a positive development, while 11.4 percent saw it negatively, while there were also 16 percent who believed both views to be true at some point. Nearly 80 per cent people also believe that the Narendra Modi government has been successful in attracting foreign investment, but at the same time, most respondents want India to adopt a protectionist policy while dealing with foreign investment.
Respondents were asked whether MNCs helped create employment opportunities and create better working conditions for workers. An astonishing 43 percent of the respondents agreed to this, while close to 52 percent were of the firm opinion that MNCs exploit their workers.
The tracker showed that most Indians welcome foreign investment in India, but at the same time, they feel that the dominance of foreign investors in some key sectors is dangerous for the country.
However, 48.6 per cent consider the Indian entertainment sector too dangerous to be dominated by foreign investors, which includes movies, OTT platforms and TV channels.
While over 47 per cent of the surveyed Indians found the dominance of foreign investors in the telecom, mobile and internet sectors to be extremely dangerous, about 32 per cent in the consumer durables sector expressed similar views. In the agriculture sector too, 45.5 per cent of the Indians surveyed found the dominance of foreign investors extremely dangerous. The conclusion is clear. Indians welcome foreign investment, but they do not want it to completely dominate the Indian market, bypassing Indian entrepreneurs.
A recent CVoter survey conducted across the country has revealed that there is strong anti-China sentiment among majority of Indians. A question was asked whether they trust Chinese foreign direct investment in Indian companies. On this question, more than 90 percent of Indians said that they do not believe in it, while only 9 percent expressed confidence in Chinese FDI. In contrast, when a similar question was asked about US FDI, just 40 percent of respondents said no, while 57 percent of citizens expressed confidence.
Another question related to China was asked by the survey participants whether the ban on Chinese FDI would harm India’s interests, to which about 66 per cent said that Indian interests would not be affected, while 32 per cent said that it would have multiple implications. It is possible.
It seems that the overwhelming majority of Indians support Zee Network founder Subhash Chandra and his son Puneet Goenka in their fight for survival with Invesco, a foreign investment firm that wants to oust Puneet Goenka and the key management team and Zee Wants to build a new gem to run the network. In a nationwide survey conducted by CVoter to assess the sentiments of ordinary Indians, respondents were asked whether they would like to convene an extraordinary general meeting at the earliest to enable them to vote for the removal of Goenka from the post of Managing Director. Support Invesco’s demand. To this, about 85 percent of the respondents said that they oppose the move of Invesco, while about 12 percent of them supported the move.
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