If some foreign company is willing to set up operations in India, it could be with some hidden agenda and not merely to help India. They may mask their intentions by saying that they would definitely help us with the latest technology and other pretext. But it may not be so. Most often, they come to realise their own self-seeking motives.
It is a gross mistake on the part of the government to depend on the multinationals alone for the development of the economy. By giving suitable encouragement and aid, businesses in India can be developed by motivating local talent itself. If there is something technical that needs to be learnt, it can be done by sending qualified people abroad. Such expatriates would gain knowledge of specific tools, techniques and technology and return to India. This would be appropriate. It may not be proper to assume that it is the foreign companies alone that can churn out right things to satisfy India’s needs. The government must ensure that the foreign businesses are permitted to start their operations in India only with proper checks and balances.
This may not work out in accordance with this thinking in the long run owing to the dependence of government on foreign investments. They permit them to set up companies here due to several international obligations and economic expediencies. These steps however are likely to cause more problems and harm India’s interests. India should not be required to depend upon anybody. It must rely entirely on truth and righteousness. Other nations may find it difficult to understand the significance of truth and righteousness in relation to business. It is also said, “That which is not found in India cannot be found anywhere else”. Be it mathematics, spirituality, scriptures, law, natural sciences or others - these fields trace their roots in India. Today, companies are purchasing material worth one rupee from India, making some value addition and selling it back in India with massive margins. What we regard as waste is being transformed to something useful by adding value and is being exported back here as some other item. Hence, it is better if we can discover how that which is considered useless could be transformed into something useful. We must learn the technique from other countries and then return to our country and make efforts to implement it in India.
Source: Social Culture and Management: National and International Perspectives, Chapter 18, Man Management: A Values-Based Management Perspective