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PunitiveMeasure: India new assertiveness against infractions by foreign MNCs are an important fallout of the reforms path it has taken


The Financial Express

Last year, the NGT had ruled that Volkswagen’s “cheat device” caused environmental Damage Conservatively Estimated at Rs 100 crore.

India standing up to MNC-might today—decades after Union Carbide strong-armed the government into accepting a $470 million out-of-court settlement, against the $3.3 billion that India had sought, for exposing 500,000 to a toxic gas leak from its facilities that left 8,000 dead—reflects an assertiveness the country has perhaps acquired with growing economic strength. Post the 1991 reforms , India’s attractiveness as both a market and an investment destination has grown phenomenally. The strength to hold MNCs accountable in a degree commensurate with the action against them in developed jurisdictions may be an ancillary gain, but is nevertheless an important one.

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via FinancialExpress

The post PunitiveMeasure: India new assertiveness against infractions by foreign MNCs are an important fallout of the reforms path it has taken appeared first on CommentWise.



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PunitiveMeasure: India new assertiveness against infractions by foreign MNCs are an important fallout of the reforms path it has taken

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