ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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From 50 Years Ago: Indianisation in Foreign Firms.

From 50 Years Ago: Indianisation in Foreign Firms.

Weekly Note from Volume X, No's 51 & 52, December 20, 1958.

Indianisation in foreign firms, always a delicate subject, should be unmentionable when the accent is so heavily on creating the right economic climate for foreign investment. For foreign direct investment cannot be disassociated from foreign personnel and it is in the for m of direct investment t hat foreign capital is invited. Whether the periodic invitations to such capital are mere ritual or good form, the correct stand for a country which needs foreign capital in the form of loan or aid, is a question that is better not asked too bluntly. Since the Bank-Fund Meeting in Delhi, India has come to hold the centre of attention as the field for salvage and development to which foreign capital is expected and invited to flow from all quarters. That foreign capital also means foreign personnel, needs to be accepted as a hard though somewhat embarrassing reality.

This has not been done consciously, fully and without mental reservation either by the Government or the people of the country. The keen interest with which the progress of Indianisation in foreign firms is watched and commented upon makes t his obvious. Indeed, for more than 10 years, every year, foreign firms have been submitting returns on the employment of Indians and the Government has been publishing the statistics based on these returns, of the percentage of Indians and non-Indians employed in different industries by salary grades. Considering that progressive Indianisation has been a firm policy for the last 12 years, progress must be rated pretty slow, since it is only this year that the percentage of Indians employed in the pay group of Rs 1,000 and above crossed 50. But the higher up one goes in the salary scale, the percentage of Indians employed drops sharply

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