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Rahul Gandhi asks govt to protect domestic industries from foreign takeover English.Lokmat.com

Rahul Gandhi asks govt to protect domestic industries from foreign takeover

Congress leader Rahul Gandhi has cautioned the government from "foreign interests" that due to economic slowdown foreign companies may try to take over Indian companies as they may be "attractive targets" and asked the government to protect the Indian companies.
Rahul Gandhi asks govt to protect domestic industries from foreign takeover

New Delhi, April 12 Congress leader Rahul Gandhi has cautioned the government from "foreign interests" that due to economic slowdown foreign companies may try to take over Indian companies as they may be "attractive targets" and asked the government to protect the Indian companies.

Rahul Gandhi tweeted "The massive economic slowdown has weakened many Indian corporates making them attractive targets for takeovers. The Govt must not allow foreign interests to take control of any Indian corporate at this time of national crisis."

Amid lockdown all the industries have faced closure due to losses the Congress had earlier demanded financial package for the industries stating that no financial stimulus package has been announced to support industries during the lockdown.

The Congress said as per the Assocham estimate the industry needed Rs 15-23 trillion support. The FICCI has put the figure at Rs 9-10 trillion.

The government has given relief to certain industries to overcome the crisis. Ahead of two days of the lockdown to be ended, the government has permitted over 15 industries to start their work with minimum manpower and distancing norms on a single shift basis.

( With inputs from IANS )

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