The Financial Express
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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