Noting that the IMF states that Foreign Direct Investment in India has underperformed its expectations in recent years, Ramesh said India's share in global FDI has decreased, falling to about 2 percent in 2023 from about six-and-a-half percent in 2020.

The IMF notes that this is partly due to the Modi Government's incoherent trade policy -which can be best characterised as maintaining an open-door policy for China, and protectionism for the rest, he said.

"This has led to India getting the worst of both worlds, with investors unwilling to produce for export markets due to the fear of retaliatory protectionism and being unwilling to invest for domestic consumption due to the threat of Chinese dumping," Ramesh argued.

The IMF also attributes much of the much-proclaimed increase in labour force participation rates to growth to self-employment and unpaid family work, he said.

As the Congress has been consistently pointing out, this shows a worrying decline in the quality jobs in recent years, Ramesh said.

Adblock test (Why?)