New Delhi: Coming down heavily on the Modi government for relaxing FDI norms in various sectors including defence, the Communist Party of India(CPI) today termed the government's decision as "disastrous".
The party, in a statement, said that the the relaxation will adversely affect both the country's security as well as its sovereignty.
The CPI also expressed the apprehension that this move will make India dependent on "US-Israel clique".
"The Central Secretariat of CPI expresses serious concern on relaxation of FDI norms that will adversely affect the country's security as well as sovereignty," the CPI statement said.
Contending that the Modi government had made India a "junior partner" of the US, it said FDI reforms in defence sector will make the country dependent on American/Israeli "clique".
"FDI in defence sector will push us to dependence on US- Israeli clique and have adverse impact on our security as well as sovereignty," it added.
The communist party further rejected government's claims that the move will help bring in investment in the country and create job opportunities, saying in reality the measures will carry "adverse impact".
"In the garb of 'Make in India', the FDI will be brought to set up 'assembling units' that will destroy all concerned small and medium industrial units in the country and throw hundreds of thousands out of job," it feared.
Similarly, CPI said, opening pharma sector will pave way for merger and take over in the sphere, establishing monopoly of foreign players.
"The relaxation in the clause for 30% local procurement will adversely affect all the sectors including agriculture," it added.
Government had yesterday launched a second wave of FDI reforms allowing 100% inflows in civil aviation and food processing sectors while easing norms in defence and pharmaceuticals.
(With PTI inputs)
