NEW DELHI-Clandestine Surrender on MIGA

NEW DELHI Clandestine Surrender on MIGA B M Successive governments in New Delhi had refused to join MIGA, the World Bank-sponsored arrangement for extending special protection to foreign private investment, on the ground that foreign investors, tike Indian business, should rely on Indian laws for ensuring fair treatment and security and not on supranational arrangements and agencies which have the effect of abridging the country's sovereignty. The government of Narasimha Rao has now thrown such considerations overboard and has decided, surreptitiously and without taking the country into confidence, to join MIGA.