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| Indian Trade |
Investments are welcomed but priority is the local products
For me the main reason for India prospering in the trade area is they give preference to the local products. This gives security to the national productions and the market gets confidence naturally. Whether the advantages are spread equally is another question though.
Due to the unattended corruption levels in the country in every sector, things get ugly when you try to trace the roots. Anyways to precede further the history also give a glimpse of when the independence took place international trade was discouraged.
One thing which resulted was the strengthening of the internal resources. And the consequence is that India now exports more than it imports. There is a massive change in India what it was before in the area and what it is now.
In whatever area the Modi government has failed it has certainly raised the cargo to India and trade area. Even the IMF was approached some years after independence for which India has to open up for foreign investment as a condition.
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Favouring the local farmers
There are many people in India who live below the poverty line. To provide them with food there has been a major yet criticizing step from the Indian government. It heavily funds local farmers so that they can provide food for the class.
It is a really good step towards feeding the needy people who cannot earn their living in any other ways. However, India is criticized for this million-dollar food-security program. Many say it is against the subsidy limit which WTO (World Trade Organization) has fixed.
But the affair is not that simple. India is subsidizing the farmer that’s good for people, but at the same time, its high tariffs for the trade of crops are very high. If they are lowered the food prices will come down, but that will also make the farmer suffer.
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The overconfidence could backfire
One should not be proud of his plans as they can at any time create a distasteful reaction. regardless of this India has taken many people out of poverty but still, there are many more waiting for the action or are they not willing to be a part, which is also a crucial discussion.
India’s step towards American products but then seeing the hard side going towards a softer side is an intelligent step. It is good for the country’s sake. As for now, you are not totally in a position to get in a fight with a superpower.
The Indian government took a bold step
So now the Indian representatives support and protect their program in the WTO platform in any way they can. Now as being a national interest this is a really good step as seen apparently. But from the world point of view, it can be easily taken as cutting the county from the rest of the world for trade.
In the present era, a country cannot stand alone, it has to have a friendly relation and strong trade ties. Despite this notion, India is standing strong on its stance which is commendable.
