debate(against or favour) on india still abides by the socialist ideals set out in the preamble
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Since Early 1990s, India has been trying to slowly move away from their socialist past and more towards an open, more capitalist economy. The move was pushed by Congress government in a bid to create growth and opportunities for the booming population of India which was, in majority, very poor.
25 years on from that time, India surely has moved on to a more open economy, but many international companies have still complained about protective and socialistic measures by the India Government.
An example is of Wal-Mart which cannot properly enter India unless it sources more than 40% of their products locally or other companies which are needing to have local partners in order to expand.
The government is resorting to such old policies in a bid to cash as much as possible from the allure of the Indian market but in reality, the government is actually doing whatever it did 30 or 40 years ago, where due to such policies, Coca Cola left India and set-up in Pakistan instead and it was years until Coca Cola came back.
Another fact is that the government still very heavily subsided exporters by giving them rebates that cost billions of dollars not to mention up to 30 billion dollars worth of subsidies on food for poor people
The government still abides by socialist ideals but if they continue, it would be disastrous for the country.
25 years on from that time, India surely has moved on to a more open economy, but many international companies have still complained about protective and socialistic measures by the India Government.
An example is of Wal-Mart which cannot properly enter India unless it sources more than 40% of their products locally or other companies which are needing to have local partners in order to expand.
The government is resorting to such old policies in a bid to cash as much as possible from the allure of the Indian market but in reality, the government is actually doing whatever it did 30 or 40 years ago, where due to such policies, Coca Cola left India and set-up in Pakistan instead and it was years until Coca Cola came back.
Another fact is that the government still very heavily subsided exporters by giving them rebates that cost billions of dollars not to mention up to 30 billion dollars worth of subsidies on food for poor people
The government still abides by socialist ideals but if they continue, it would be disastrous for the country.
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