Spark #2 - Why no public criticism of Imports?
Have you ever thought, why the government of India (either b or c) never criticizes Chinese goods, or other imports, publically??
They often talk, indirectly targeting imports, about "atmanirbhar Bharat" (self-reliant India) or finding alternatives to imports.
Why they don't do it directly, asking people not to buy Chinese goods ??
They can't do it, LEGALLY as well as LOGICALLY.
How/why LEGALLY?
India is part of the World Trade Organization (WTO), and as per basic principles of trading, members of WTO have to follow:-
"NATIONAL TREATMENT - Treating foreigners and locals equally"
(Imported and locally-produced goods should be treated equally — at least after the foreign goods have entered the market.)
Thus, the Government of India can't discriminate against imports and have to treat them at par with locally-produced goods and services.
How/Why LOGICALLY?
Our country is heavily dependent on imports from countries, be it China for technology equipments or Oil from Russia or OPEC. Because Locally-produced alternatives can't fulfil the demand, directly targeting imports can create chaos in the market.
Also, in today's world, exports are the most important part of a country's growth story and if it discriminates the imports from other countries, its exports will also face a backlash from importing countries.
The complexities of global trade and geopolitics require careful consideration of each move. Governments need to balance various factors, such as domestic demand, international trade relations, and economic stability, to ensure sustainable growth and avoid unintended consequences.
What are your thoughts on the same?
Do share your thoughts in the comments on Linkedin,
This is just a briefing on the topic, if you want to learn more and also participate in the discussion then do let me know in the comments on Linkedin.
If you like this post, then do like and share on Linkedin☺️
They often talk, indirectly targeting imports, about "atmanirbhar Bharat" (self-reliant India) or finding alternatives to imports.
Why they don't do it directly, asking people not to buy Chinese goods ??
They can't do it, LEGALLY as well as LOGICALLY.
How/why LEGALLY?
India is part of the World Trade Organization (WTO), and as per basic principles of trading, members of WTO have to follow:-
"NATIONAL TREATMENT - Treating foreigners and locals equally"
(Imported and locally-produced goods should be treated equally — at least after the foreign goods have entered the market.)
Thus, the Government of India can't discriminate against imports and have to treat them at par with locally-produced goods and services.
How/Why LOGICALLY?
Our country is heavily dependent on imports from countries, be it China for technology equipments or Oil from Russia or OPEC. Because Locally-produced alternatives can't fulfil the demand, directly targeting imports can create chaos in the market.
Also, in today's world, exports are the most important part of a country's growth story and if it discriminates the imports from other countries, its exports will also face a backlash from importing countries.
The complexities of global trade and geopolitics require careful consideration of each move. Governments need to balance various factors, such as domestic demand, international trade relations, and economic stability, to ensure sustainable growth and avoid unintended consequences.
What are your thoughts on the same?
Do share your thoughts in the comments on Linkedin,
This is just a briefing on the topic, if you want to learn more and also participate in the discussion then do let me know in the comments on Linkedin.
If you like this post, then do like and share on Linkedin☺️
Regards
Devansh Singla
Devansh Singla
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