Mangalore: People Should Look at FDI with Broad Vision - Moily

Pics: Dayanand Kukkaje
Daijiworld Media Network - Mangalore (DV)

Mangalore, Dec 8: Union minister for petroleum and natural gas Dr M Veerappa Moily on Friday December 7 was felicitated by Kanara Chamber of Commerce and Industry during a programme held at its premises.

Addressing the gathering, Dr Moily batted for FDI in multi-retail and said, "FDI has been passed in Lok Sabha and the Rajya Sabha. It is not about getting Walmart into India - we should look at it with a broad vision and consider its benefits to the people."

"The Indian industry lobby is very weak. Right kind of advocacy is needed to educate people on this issue," he added.

He cited the example of Thailand PM who faced opposition to the introduction of FDI, and who was forced to flee his native as a result. "But after two or three years people realized the benefits of FDI and welcomed him back with a red carpet," he said.

He further said that when VAT was introduced people had opposed it too, and in the future too they will oppose new policies. "People should dismiss such kind of thoughts," he added.

On KCCI, he said for the first time in his 40 years of political life he was inspired. "The future of India depends on you, it is in the hands of the youngsters gathered here," he said.

Moily said that people of South Canara are progressive and educated and also full of action. "Earlier at the time MRPL was set up, many problems arose but they were solved. People refused to give land to MRPL intitially but later on they agreed to do so on market value. Employment opportunities were also provided with the help of KPT. New and advanced technology to control pollution was also introduced by MRPL," he said, adding, "If all people support me I can create employment in every house."

On the issue of high prices of petroleum products, he said, "India depends 80 percent on import of crude oil from foreign countries. If we use proper road map and pipeline corridor connectivity we can reduce dependency on crude oil and the problem will be solved. More than 50 percent of crude oil required is present in India but it should be explored with technology, so that India becomes a rich nation. If it is done, I will get 50 billion dollars to India within three months."

He also informed that work on the Cochin-Bangalore-Mangalore gas pipeline has already started.

Moily was felicitated by KCCI president Mohammed Amin. John Menezes welcomed the gathering.

KCCI secretary Maroor Rammohan Rai, vice-president Nigam B Vasane, and treasurer Ganesh Bhat submitted a memorandum to Moily raising several concerns of petroleum industry in the coastal region on the occasion.