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Money Spent on PM’s Foreign Tours is Not Even 1% of FDI brought to India in 2017-18 Alone

Modi Foreign Tour Expenses

As the Lok Sabha elections draw closer, there has been an increase in fake narrative against the Prime Minister Narendra Modi. On December 14, 2018, the whole country witnessed the Supreme Court itself busting the fake narrative of the alleged scam in Rafale deal built by the Congress President Rahul Gandhi. In the same series, another narrative started appearing across media reports.

Bloomberg in its report quoting the latest government data said PM Modi’s 84 foreign trips cost roughly $280 million to Indian taxpayers. The similar news was also published in Live Mint. Hindustan Times also carried the same story. Once the story was published, it was circulated across social media. The said story appear to have misled some twitter users (like the one below) as it didn’t talk about the achievements of the Prime Minister Modi’s foreign trips.

Here is what such reports hide from you.

Foreign Direct Investment (FDI) to India

India received about $ 61.96 Bn ($ 61,960 Mn) of FDI in 2017-2018 alone whereas Prime Minister Narendra Modi spent about $ 280 Mn on his foreign tours in 4 years. This is not even 1% of what he has been able to bring to the country in one year alone. If figures are normalised for 4 years of total FDI, then money spent on PM Modi’s foreign tours will look negligible.

Source – http://pib.nic.in/newsite/PrintRelease.aspx?relid=175501

Let’s analyse this in little more detail and take an example of UAE, FDI equity inflow from UAE in FY 2013-14 was $ 255 Mn (here) which after Prime Minister’s visit to UAE in 2015 increased to $ 1,050 Mn (here) in FY 2016-17. This shows a huge rise of more than 300 per cent.

To know more on this, read one of our earlier articles where we have explained as to how the FDI inflow has increased into India after 2014.

Now, FDI is only one of the many benefits of PM Modi’s foreign tours, Let’s see other benefits that accrued to India due to the rising popularity of PM Modi.

Tourism

India is among the fastest growing tourist destinations in the world. The tourism potential of India has increased exponentially after 2014 as India has eased the process of visa, providing e-visa facility for 150 countries among other measures. Take a look at the increase in tourists coming to India after 2014 which has resulted in increased foreign exchange earnings to the nation.

PM Modi’s Foreign Visits and India’s Rising Clout

We, in one of the earlier articles, have already explained in much detail as to how India has been countering China’s strategy of encircling India. Prime Minister Modi’s foreign visits reflect a pattern of a grand strategy of India which has never been seen before.

Prime Minister Narendra Modi has been increasing alliances with many countries and building strategic bases there so that India can come out of its South Asia region and play a bigger role of Net Security Provider to the region. Take a look at what India has achieved over last four and half years in his foreign visits.

Conclusion

There have been repeated attempts by sections of media to attack the Prime Minister Narendra Modi by quoting his foreign tour expenses. This looks to be a part of deliberately spread misleading narrative which doesn’t want to analyse the achievements coming out of them.

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