"There should be a policy to have a mechanism in place to decide when and how to import or export." K. V. ThomasWE CELEBRATED OUR 70TH INDEPENDENCE DAY RECENTLY. WE GAINED FREEDOM ON 15 AUGUST 1947 FROM THE BRITISHERS WHO RULED US FOR MORE THAN A CENTURY. AFTER INDEPENDENCE WE STARTED DEVELOPING. WE STARTED BUILDING DAMS,SCHOOLS,COLLEGES,CORPORATE OFFICES, SPACE RESEARCH CENTERS, NUCLEAR HOUSES,STADIUMS AND DEMOCRATIC CENTERS. WE ARE SLOWLY SLOWLY BECOMING A DEVELOPED NATION AND ARE BECOMING DEPENDENT ON OURSELVES BUT AFTER 69 YEARS OF INDEPENDENCE ALSO ,WE ARE PARTIALLY DEPENDENT ON OUR NEIGHBOURING COUNTRIES FOR RESOURCES AND MONEY. I AM GOING TO HIGHLIGHT SOME OF THESE DEPENDENCIES HERE.
- WE ARE INCREASINGLY DEPENDENT ON THE FOREIGN COUNTRIES FOR FOSSIL FUELS. IT IS ALWAYS INCREASING AND IN 2012 IT REACHED 38% .WE ARE HAVING SUFFICIENT RESOURCES BUT THE INCREASING POPULATION IS MAJOR FACTOR WHICH AFFECTS THE CONSUMPTION OF FUELS. THE THREE MAJOR FUELS ARE PETROL ,COAL AND NATURAL GASES.WE ARE THE 4TH LARGEST CONSUMERS.
- WE ARE DEPENDENT ON FOREIGN DEFENSE MISSILES AND STRATEGIES. WHY?INDIA IS THE LARGEST DEFENSE IMPORTER IN THE WORLD.AROUND $50 BILLIONS WERE SPEND ON PURCHASING WEAPONS ALONE.IF WE HAD SPENT THAT MUCH MONEY ON 38 YEAR OLD DRDO -INDIA'S SOLE WEAPON MANUFACTURER ,WE COULD HAVE DEVELOPED BETTER MISSILES,WHICH DRDO IS NOT ABLE TO FULFILL DUE TO UNAVAILABILITY OF SUFFICIENT TECHNOLOGY.
- INDIA SPENDS MORE THAN $60 BILLION TO BUY JEWELS LIKE GOLD,DIAMOND,SILVER. WE INDIANS ARE FOUND OF JEWELS ESPECIALLY GOLD. I AM A KERALITE SO I KNOW BETTER. WE SPEND ALMOST 50% OF THE MARRIAGE MONEY ON GOLD.ITS OUR TRADITION AND WE FOLLOW IT. INDIA IS THE LARGEST IMPORTER OF GOLD. WE PAY IN DOLLARS TO BUY GOLD WHICH GRADUALLY AFFECTS THE VALUE OF RUPEES AND ATTACKS THE ECONOMIC GROWTH.
- THE LAPTOPS ,MOBILES,TABS ALMOST 70% OF THE ELECTRONIC ITEMS WE USE ARE "MADE IN CHINA". EVERY MAJOR COMPANIES LIKE APPLE,MICROSOFT MANUFACTURE HARDWARE PRODUCTS IN CHINA AS CHINA IS A CHEAP MARKET AND BUSINESS FRIENDLY. THROUGH MAKE IN INDIA AND 100% FDI ,INDIA IS SLOWLY BECOMING A BUSINESS FRIENDLY NATION AND COMPANIES LIKE FOXCONN ARE GOING TO SET A FACTORY HERE . INDIAN ELECTRONIC COMPANIES HAVE A MARKET SHARE OF JUST 2% GLOBALLY.
- HEAVY MACHINERY IS IMPORTED FROM JAPAN AND CHINA. COMPANIES LIKE KOMATSU,VOLVO,CATERPILLAR,HITACHI HAVE THEIR PRESENCE IN INDIA. L&T IS ONE OF THE MAJOR INDIAN COMPANIES. AROUND $32 BILLIONS WERE SPEND ON FOREIGN MACHINERY.
- 8615 MILLION DOLLARS WERE SPEND ON ORGANIC CHEMICAL IMPORTS. THIS INCREASES THE AGRICULTURAL EXPENDITURE AND THEREBY INCREASES FOOD COST AND ULTIMATELY INFLATION.THE COUNTRY'S FAST GROWING DEMAND WHICH DOMESTIC PRODUCTION CANNOT FULFILL. CHEMICAL INDUSTRY IN INDIA IS GROWING BY SOME 2% SINCE 2009. THE INDIAN GENERIC CHEMICAL COMPANIES LIKE CIPLA,PIRAMAL ACCOUNT FOR 20% OF THE GLOBAL MARKET.
- OUR COUNTRY'S SIXTH IMPORTED ITEM IS PLASTIC EVEN AFTER WE SAY NO TO PLASTICS.INDIA IMPORTS PLASTIC FROM SAUDI COUNTRIES,USA AND CHINA.CHINA EXPORTS AROUND $1.6 BILLION PLASTICS INTO INDIA. INDIA IS 12TH IN RANKING OF GENERATION OF PLASTIC WASTES THAT ARE DUMPED IN OCEANS.
- THOUGH INDIA IS RICH IN IRON ORE,IT STILL DEPENDS ON OTHER COUNTRIES FOR IRON AND STEEL. $7 BILLION IS SPEND ON IRON MATERIALS, ENVIRONMENT AND FOREST CLEARANCES ARE NOT ISSUED THAT IS WHY INDIA IS SLOWLY FALLING DOWN IN EXPORTS OF IRON. ILLEGAL MINING HAS MADE INDIA DROP DOWN FROM THE 3RD LARGEST IRON EXPORTER. INDIA IS PLANNING TO IMPORT 20-25 MILLION TONS OF IRON ORE . JSW STEEL,ESSAR STEEL ARE THE MAJOR IRON COMPANIES.
- IN TERMS OF LOAN ,INDIA IS ONE THE BIGGEST USA AID RECIPIENT. IT RECEIVED AROUND $199 BILLION FROM AMERICANS FROM 1946-2102.INDIA IS ALSO LARGEST LOAN RECIPIENT FROM WORLD BANK. BETWEEN 1945-2015,INDIA TOOK A LOAN AMOUNTING TO $102 BILLION.UK AIDED AROUND 1646.84 CR RUPEES TO INDIA FROM 2013-2016.BUT NOW IT HAS STOPPED THIS PRACTICE AS THIS MONEY IS EQUAL TO A PEANUT FOR INDIA'S DEVELOPMENT.
RTI TO INDIA'S EXPORT AND IMPORT:www.tradingeconomics.com
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