Kharge Accuses Modi Government of Favouring Corporate Giants, Says Monopolies Are Harming Competition

New Delhi, Oct 9 : Congress president and Leader of the Opposition in the Rajya Sabha Mallikarjun Kharge on Friday accused the Narendra Modi government of favouring select corporate groups, alleging that growing monopolies and duopolies were weakening market competition, hurting small businesses and worsening the country's employment crisis.

In a post on social media platform X, Kharge alleged that the government's economic policies were concentrating wealth and economic power in the hands of industrialists allegedly close to the ruling Bharatiya Janata Party (BJP).

He claimed that the policies were aimed at benefiting a few corporate groups at the expense of fair competition and broader economic development.

"The objective of Modi ji's economic policy is to hand over control of the economy to his favoured capitalist friends, so that the BJP can secure a share of their profits in return," Kharge said.

Accusing the government of undermining the principles of economic liberalisation, the Congress president alleged that the growing dominance of a handful of companies was reducing competition across key sectors.

To support his argument, Kharge cited developments in the telecommunications and domestic aviation sectors since 2014. He claimed that the telecom sector, which previously had 13 players, now had only three major private players, while the number of significant players in domestic aviation had declined from seven to two.

He also raised concerns over market concentration in digital payments, cement and food-delivery applications, arguing that the growing influence of dominant companies was making it increasingly difficult for smaller businesses to compete.

Kharge asserted that the Congress had laid the foundation for economic liberalisation in India and accused the BJP government of prioritising corporate interests over inclusive economic growth. He described the government's approach as "economic terrorism", alleging that its policies were serving political and financial interests rather than the wider population.

The Congress president further claimed that micro, small and medium enterprises (MSMEs) and other small and medium-sized businesses were facing mounting difficulties, with many struggling to survive or being forced to shut down. He also linked the concentration of economic power to the employment crisis, saying the country's youth were bearing the consequences of inadequate job opportunities.

The allegations form part of the Congress's broader criticism of the Modi government's economic record. The opposition party has repeatedly raised concerns over economic inequality, corporate concentration, the condition of small businesses and the need to generate sustainable employment.

The Congress maintains that economic growth must be accompanied by stronger market competition, adequate support for smaller enterprises and wider distribution of the benefits of development.

Economic liberalisation in India is widely associated with the landmark reforms introduced in 1991 under the Congress government led by Prime Minister P V Narasimha Rao, with Manmohan Singh serving as finance minister. The reforms reduced licensing and regulatory restrictions, encouraged private investment and opened up several sectors to greater competition.

Kharge's latest remarks seek to distinguish the original objective of liberalisation, which was to expand economic opportunities and promote competition, from what the Congress alleges is the present concentration of economic power among a limited number of large corporate groups.

By linking corporate dominance with the difficulties faced by MSMEs and the shortage of jobs, the Congress president has sought to highlight the wider implications of market concentration for livelihoods, economic opportunity and equitable growth.

The BJP and the central government's response to the specific allegations was not available in the account of Kharge's post.