Venture capitalist Tim Draper revaluates his funding plans for India amidst CAA stir
Narendra Modi government’s contentious Citizenship Amendment Act that excludes Muslims while granting citizenship to illegal migrants from Bangladesh, Pakistan and Afghanistan, is starting to scare of foreign investors from funding businesses and start-ups in India. Expressing his concerns over the Citizenship Amendment Act, top venture capitalist Tim Draper has termed it as an issue that may derail his plans to fund Indian businesses.
Draper, who funded companies like Skype, Tesla and Baidu, had recently re-entered India by stitching a partnership with Blume Ventures. He had exited India a year before the Narendra Modi-led BJP government stormed to power.
"India Choosing One Religion over another makes me seriously concerned about my business plans there," the American billionaire wrote on Twitter while sharing a news report on Citizenship Amendment Act protests.
India has been witnessing nation-wide protests, some of them even turned violent, over the "divisive" Citizenship Amendment Act, that grants Indian citizenship to all the illegal immigrants of Bangladesh, Pakistan and Afghanistan unless they are from Muslim community. The critics say that the provision to grand citizenship on religious basis and excluding a particular community from it is against the Constitution of India.
The government, however, argued that the bill was not discriminatory to Muslims and grants citizenship to those who were persecuted in these three countries. However, questions were raised about the government's intention as Tamil Hindus in Sri Lanka, Buddhists in Tibet and Christians in Bhutan have also been facing similar persecution for years.
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