let’s do it!!! innovatively

IIPM BEST MBA INSTITUTE
While blindly imitating China seems to be a way out for many experts, this is what we should not do. Countries like China and Philippines have developed expertise in manufacturing low cost products; India sees new horizons in IT and services sector. But looking at the rate of growth of industrial sector in India, even this sector should not be ignored. Rather than exporting raw material and importing value added products, our focus should now be on more value added processed outputs. Instead of exporting alumina and high variety coke to other countries, we should sell products like aluminum and steel. For information, India imports crude oil and unworked stones from other countries and processes them and re-exports. And yes, India’s focus on joining individual trading partners should perhaps start with the biggest partner of them all, China. An individual trade agreement with China would work more wonders for India than any haggling would have at the WTO. Long live the WTO; the WTO is dead!

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Source :- IIPM Editorial, 2006, Editor - Prof. Arindam Chaudhuri

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