{"license":"Free to use with attribution to Vaada Meter (license terms to be finalised)","methodVersion":"1.0","generatedAt":"2026-10-06T07:29:06.601Z","data":{"id":"janata-ls-1977-013","text":"Strictly enforce FERA against multinational corporations refusing to dilute foreign equity","quote":"Strictly enforce the Foreign Exchange Regulation Act against foreign multinational corporations and promote self-reliant industrialization.","quoteIsExact":true,"quoteLanguage":"en","quoteEnglish":null,"page":null,"sector":"economy","measurability":"measurable","importance":"major","deadline":"1982-03-24","deadlineType":"implied","status":"kept","rating":10,"ratingRule":"kept","provisional":false,"confidence":"high","reason":"The Janata government strictly implemented Section 29 of FERA requiring foreign companies to dilute equity to 40%; when Coca-Cola and IBM refused compliance and technology sharing, their Indian operations ceased in 1977-78 (per FERA records).","evidence":[{"date":"1977-11-01","sourceType":"other","publisher":"Wikipedia","title":"Foreign Exchange Regulation Act","url":"https://en.wikipedia.org/wiki/Foreign_Exchange_Regulation_Act","quote":"Strict enforcement of FERA under Industry Minister George Fernandes in 1977 forced companies like Coca-Cola and IBM to leave India after refusing to dilute equity to 40%.","stance":"supports"},{"date":"1977-11-01","sourceType":"other","publisher":"Wikipedia","title":"Economic history of India","url":"https://en.wikipedia.org/wiki/Economic_history_of_India","quote":"Multinational corporations unwilling to comply with equity dilution under FERA withdrew from the Indian market during the Janata regime.","stance":"supports"}],"tags":["fera","multinationals","self-reliance"],"sensitive":false,"memeLine":null,"repeatOf":[],"review":{"state":"ai_draft","draftedBy":"research-agent","draftedAt":"2026-10-06","reviewedBy":null,"approvedBy":null},"manifestoId":"janata-ls-1977","partyId":"janata-party","electionId":"ls-1977"}}