Lets face it,the government controls the pace of all economic activities in India.
In 1992 it began the process for liberalisation for the wrong reason-India was broke. And we all know that all ends bad that begins with bad thoughts.
Most of India's imports are price inelastic-gold,oil,defence and interest payments.
And most of India's exports are highly replaceable-basic engg. goods,basic pharma,software,IT,diamonds,leather,commodities,agri. products, Nothing that the world can do without. All that happens when the rupee falls in value vs. the dollar is that importers negotiate a better rate for themselves. And our imports get costlier.
Only when ALL Indians make the following mind-set change will India's trade balance begin to improve:
1.Acknowledge that INDIA DOES NOT MATTER IN WORLD AFFAIRS.Its called humility!
2.Acknowledge that India needs the world and its products for its survival far more than the world needs India for its survival. (After all,a few less cups of tea,sugar or rice never killed anybody!)Its called being totally dispensable!
3.Become more pro-industry in its business culture,as against its pro-agri. tilt.
4.Acknowledge that being rich is not a criminal offence and is indeed a desirable aspiration for all Indians,and not just the fortunate few.
5.Get off its neutral high horse and stand taking a bold stand in world affairs.
6.Acknowledge that encouraging the growth of many,many big cities and modern industry is its future and not farming!
Grow up,India!
No comments:
Post a Comment