2.Swadeshi

Purely domestic production or self-sufficiency, in all aspects – is really an impractical and unrealistic ideal. True Swadeshi does not really mean that we should all try to do or make everything we need for ourselves by ourselves. It really means we should do, or make enough of, what we do or make best, so as to be able to trade the surplus for all the other things we need from others who do or make what they do best. This way everybody gets the best at the least cost. In short –‘Don’t concentrate on what someone else can do that you cannot do or do as well. Concentrate instead on what you can do that others cannot do or do as well.’ Encourage Education and Innovation to gain technological advantage. (See “Swadeshi – Self-sufficiency & Protectionism”)

Encouraging foreign companies to come and invest in manufacturing in India, bringing the latest technology, and employing at least 70 percent Indians, at all levels, would go a great way to improving our manufacturing capability and add to our exports and employment generation.

Protectionism

The use of quotas and tariffs to discourage the importation of foreign goods- does not make us more prosperous except in clear cases of ‘dumping’, or when the lower cost of power and interest on loans or other subsidies provide unfair advantages to the foreign exporters.

The many consumers in the Country gain much more in total from the lower prices of such foreign goods becoming affordable to more people than the few domestic producers lose by not becoming more efficient or by having to take up other products. Our Industrialists have had enough time to gird themselves up and are today more than capable of taking on their competition from the rest of the world, especially where ‘Free Trade’ is reciprocal. This would have the additional benefit of strengthening our relationships with such countries. Something that is essential in our neighbourhood.

“No Country that wishes to become developed today can pursue closed door policies.“ – Deng Xiao Ping

However, consideration must be given to the subsidy system and interest and charges for facilities such as Electricity, Water and Transportation of the exporting Country, to ensure a level playing field and prevent dumping. This can be done by simplifying our Regulations, Systems and Procedures, and reducing interest and other costs of things beyond the ambit of the domestic producer. Also, transparently calculated anti-dumping duties, or even Tariffs may be applied, but only for a short term, reviewed say every six months or a year, on the import of items from that Country that is seeking to gain such unfair advantage. (See – “ Interse- Valuation of Currency and Monetizing Private and Temples gold & silver holdings”).

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