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It looks like we do import some amount of generic drugs and textiles, but that’s really it.
Poor infra compounds, unimaginative industries atrophy risk.
Being led by conglomerates dont help as the conglomerate discount grows.
Our current model is old and very much tailored for 1900s.
and Indira and Sanjay Gandhi were right in trying to sterilise the educated masses.
since independence the motto has been self reliance, what might be shocking for many of the LI readers to hear is that until about late 1970s India was reliant on food aid, remember 1940s bengal famine when 2.5-3 million people died in Bengal, although it was the most industrialised province then, so the summary India was always inward looking and trying to ensure that the basic necessities of its people were met, it never had an export oriented policy outlook (you can read more about it in the polyester prince)
even after the so called liberalisation in 1990s we find that the same bureaucratic and financial hurdles persist, entrepreneurial efforts are mostly in software and services because the investment is low and there are less regulations, just look to your city and think how many manufacturing units have come up in the last two decades and how many shops have come up, just compare
what we need to do is teach value addition and innovativeness in manufacturing and supply chain in our schools, remove maths, remove social studies, teach personal finance and movement up the value chain
India has immortalised Corruption.