By Abdul Sattar Shaik
The column is an elaboration of my Facebook post which I posted a few months back. And looking at the events going on in this country, it is apparent that; to be in power getting most voters is a secondary aspect. But, it’s rather the shift of the economic power in the hands of a few rich corporate organizations by lobbying them. Who can go hand in glove with the government, so that the money that would pour in during the election campaigns can let them have an advantage over their rivals; whilst they can attract any MP, MLA or form coalition with any political party with their enormous wealth behind to buy out any horse they like. This is the same way; the rich Israelis control the USA and install their puppets to make their decisions impose on other countries. A similar plan is being envisaged and taking shape into reality now in India,
The “corporates” i.e.; the Big fishes, of the ruling party, are investing their money in different sectors absorbing the smaller fishes and players in the markets. They offer people the luxuries which the smaller companies may not offer, and what it does is; it creates the paradigm of the economy to shift to one section of people and in the hands of a few. On the other hand, the government can keep their allies happy. By giving them humongous loans from government banks and can install their players in the RBI, who can dance to their tune and handover public reserves of the county to the governments, write off debts of these corporates, when they go down in losses at the expense of taxpayer’s money, and by introducing new laws; like the recent farm bills which can extort the farmer and the middle class of this country.
Reliance group started off as a cloth manufacturing company, and then as an oil and gas company. Which subsequently started venturing into the communication sector, where it was giving phones with connections for as cheap as 500 rupees. It also invested in the retail industry, through opening supermarkets in cities and towns, and then in the FMCG domain. With the introduction of the JIO, it almost conquered the communication sector with absolute authority by employing the same business strategy of offering their product for free by taking an initial loss to set their foot in the market. and once they are grounded deep, and have made people addicted, they show their teeth in the form of billing their customers.
JIO platforms, which have stakes from companies like Facebook, Google, and many other players, is offering internet services. And as usual with a bombastic appeal of high-speed internet connectivity with more than 1000 channels, to be watched on television and free trial for a month. The smaller players will soon feel the heat of living up to this high competition and will succumb.
Gautham Adani’s group of Industries was a small logistics company from Ahmedabad, but in few years, it became one of the biggest companies in India, worth billions of dollars. growing into leaps and bounds in size and profits. In the 90’s it developed its own port in Mundra district of Gujrat, and now the company has 10 ports across India to its name and it’s one of the biggest dredging and multi-port operator. It is also India’s largest coal exporter having coal mines in several countries and the biggest power producers.
Most recently it has been in controversy over the alleged buying of the Australian coal mine in 2014 with the false promise of creating 10,000 Australian jobs and most importantly the adverse effects it would have on the environment with the operation of the mine. The case is presently pending in the Australian court. Most banks from across the world have stopped giving loans to this project. But one can figure out from this; how much in need are these companies from banks to fund these projects and how much-unaccounted money from the reserves, has the BJP lead government handed them over is oblivious. Currently, the Adani group is operating six airports under the PPP model and set to become the leading private operator which previously was managed by the AAI (Airport Authority of India). The move was largely criticized by the opposition parties terming it as favouritism on the part of BJP to make one private firm to monopolize the aviation sector operations.
The accumulation of wealth in the hands of the few can have a detrimental effect on the country’s future. It creates a great gap between the rich and the superrich, as the superrich will be able to establish themselves as the absolute authority and monopoly with fewer powers and voices left with the others. The problem is, not about one getting rich, the issue is about being the Richie rich. And when you are politically favoured and advantaged and used as fodder, by a political party whose vested interests are to spread bigotry, hate and arouse a sense of nationalistic and religious supremacy over others. It decentralizes the very ethos of a country and runs an authoritarian version, in the guise of democracy, which is not good for any democratic nation.
If the corporates were really concerned about the country and its people; they would have stopped lending their support, sponsorship to this government. And Instead of acting as an accomplice to keep their masters in power; should have raised their voices against their play false narrative, to stand in solidarity with the people of this country against a fascist and ignoramus government.
The columnist holds an MSc in Engineering from the UK and can be contacted at firstname.lastname@example.org