CPM ASSAILS INVESTMENT DEAL CLAIMS FROM PM’S VISITS

Chennai, May 26: Seeking to pick holes in the BJP’s claims that Prime Minister Narendra Modi’s foreign visits will fetch new investments from abroad, the CPI( M) on Tuesday said actual investments that come from MoUs signed never crossed more than 10 per cent.

“You see we already had very bad experience from the number of MoUs signed and actual investments coming. It has never crossed more than 10 per cent... never,” CPI( M) general secretary Sitaram Yechury told mediapersons here in reply to a question. “So what will come out of all these agreements that the Prime Minister claims to have had, we have to wait and see and nothing normally comes out of that,” he added.

Claiming that “we have lost a lot”, he cited the Rafale defence deal and said “I think more has gone out of India than what has come in and that is not going to lead us to any better economic growth.”