The current great debate and the Indian government’s decision related to FDI (Foreign Direct Investment) are very important in a democracy like India. I strongly feel we are sacrificing our spiritual goals for quick economic progress. Questionable models and solutions from USA do not need to be imported to India that needs to find its own unique economic solutions in its own soil keeping very much in mind its own social responsibility and spiritual milieu. India has over three times the population of US while it has only a little more than one third of the land mass of USA. Above all, it is mighty difficult for India to resist the global domination and influence of the dominant power in the world. But India must resist before it sells its own soul as it did to the colonizers and foreign invaders in the past through its own internal dissensions.

            The present unprincipled political infighting in India smacks of the times the colonizers and invaders took over India. US and India have a lot to give to each other in various spheres. But presently the exchanges unfortunately are not taking place in areas of mutual benefit that builds respect for human rights and spirit life. This is an era of economic colonialism and spheres of influence. US borrow from China to finance its unnecessary spending habits. India does not need to borrow from the West to finance its projects, however necessary it may be. Tightening its own belt, rooting out corruption, bringing back illegal money locked up in foreign bank vaults will go a long way for India to achieve economic prosperity. Talking about an inexperienced young man becoming the prime minister of the largest democracy just because he happens to be the son of an influential clan or president of a major political party does not speak well for Indian democracy. There is no political heir who needs to be groomed. Indian democracy deserves better than that. Dynasty and democracy do not go together.

            While I lived in the USA for a long time, and still live two to three months a year, I did not and do not follow the so-called economic theories of experts to put my finance in order. Deficit financing could only be a short term solution. Chronic deficit financing sooner or later leads to troubles. It ends up managing one’s life, and robbing one’s freedom. Balancing the budget is the wisest solution for all times. In other words, one should not spend the money that one does not have. A spiritual person is content with what she/he has, and does not live beyond one’s means. Credit card living leading to eventual bankruptcy spells disaster in a democracy. Sound fiscal policy needs to be in place for a strong economy. I like shopping, for instance, in 24-hour, super Wal-mart stores to buy practically everything that I need in one quick stop. Sam Walton started Wal-mart in a small way in a little town in Arkansas and grew it into one of the largest corporations in the world.

            India can develop its own indigenous stores rooted in its own soil encouraging cooperation and not snuffing up healthy competition. I do not think India needs Wall-mart stores spreading their tentacles across India sapping its vital fluids. India does not need to tie up with big multi-national corporations that in the guise of FDI may turn out to be like the Trojan horse that will destroy the Indian economy by making it dependent on volatile foreign investments. FDI will not be required if the Indian government brings back billions of dollars of unaccounted black money of wealthy Indians hidden away in secret Swiss banks, and check rampant corruption in the government. In a recent lecture on ‘India 2047’ (September 1, 2012) in New Delhi, Rajmohan Gandhi, a grandson of Mahatma Gandhi stated: “We need politicians and bureaucrats who are not made immensely richer by a few years of service”. Becoming a minister in a government is not for accumulating wealth through patronage and influence peddling. Unprincipled strikes at the whim of political parties that paralyze Indian economy also need to go. India has a very fragile democracy that needs to be carefully nursed and strengthened.