foreign policy and war after India's independent
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Answer:
Explanation:
The evolution of foreign policy that took place immediately after independence was informed with the same degree of idealism that permeated the freedom struggle and I make this my starting point. In fact, you will find that not only in the case of India, but all over the world there has been a conflict between idealism and realism in the formulation and implementation of all policies, especially foreign policy. So initially when India achieved its independence, this idealism formed the bedrock of her foreign policy and there was no dearth of issues for her to espouse. For example, the war against colonialism had started in India. In that war, the first victory was that of India. It was therefore natural for India to assume a leadership role against colonialism. It was also India’s destiny to lead the fight against racism, particularly the policy of apartheid which was being practiced in South Africa. The war against colonialism and the war against racism formed, some of the basic ingredients of India’s early foreign policy.
development of India. For example, in 1998, when economic sanctions were imposed and the East Asian crisis was underway, our foreign exchange reserves were on the decline. I was Finance Minister at that time and we devised what is known as the Resurgent India Bonds. We went with these Bonds to the diaspora. The alternative was to go to IMF. But clearly you cannot have nuclear tests and still go to IMF for assistance. Their doors were closed. We, therefore, went to the diaspora and I remember I was told we may get a million or at the most two million dollars. The State Bank of India which issued these Bonds kept them open for only ten working days and collected US$ 4.2 billion.
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