A FRESH START?

摘要

Critics also accuse the government of selling out the country with its plan to open up India's heavily protected coal mining and distribution sector to foreign participation and ownership. In a rare show of unity, domestic business groups have joined hands with the labour unions to oppose the move on nationalist grounds by playing on fears of widespread jobs losses and foreign control of a strategic asset. While the move might eventually force India's coal industry to become more efficient, the government has failed to present a viable plan to deal with the short-term pain of mass job losses and coal and electricity price hikes. Inevitably, private and foreign companies will slash jobs and demand higher prices for making expensive investment bets on an industry that has become bloated and unprofitable from four decades of state protection.