Re:Good for India... (Score 1)

Whilst I agree with most of what you have said RE: the need for basic/manufacturing industries, it is not true that India does not manufacture anything. India has created an industrial base that is : - large (enough to cater to all Indian needs) - deep (owns the technology they use) India manufactures its own cars, trucks, heavy engineering equipment, industrial chemicals, televisions, steel, cement, soap, shampoo etc. etc. If you come to India you will see that scarcely any product is fully imported (except PCs). It's all manufactured in India. The problem is : - the largest Indian companies are still very small by global standards - they have not faced too much competition (India being a closed ecnomy till not very long ago) and are thus inefficient - they have bought and absorbed technology, but do not do R&D of their own. For new stuff they keep buying technology from the West So as India opens up as per WTO rules, most Indian manufacturing companies will crumble when faced by cheaper products from Malaysia / S. Korea / China, and giant MNCs from US and Europe.