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In January 2018, Prime Minister Modi said economic protectionism "can’t be considered lesser risk than terrorism or climate change.”
Yet India is now firmly on the path of import-substitution and aiming for 'self-reliance': https://thepoliticalfix.substack.com/p/the-political-fix-with-atmanirbhar
In January 2018, Prime Minister Modi said economic protectionism "can’t be considered lesser risk than terrorism or climate change.”
Yet India is now firmly on the path of import-substitution and aiming for 'self-reliance': https://thepoliticalfix.substack.com/p/the-political-fix-with-atmanirbhar
The Prime Minister made this comparison – saying protectionism is like terrorism – at the World Economic Forum in Davos, in 2018: https://www.livemint.com/Politics/Z7eH1dwqpdMz2wPiKhq7HM/Protectionism-bad-as-terrorism-says-Narendra-Modi-in-Davos.html
Yet this is what Modi has been saying of late:
"There are many products that find their way into the country from outside resulting in wasteful expenditure..."
https://thepoliticalfix.substack.com/p/the-political-fix-with-atmanirbhar
"There are many products that find their way into the country from outside resulting in wasteful expenditure..."
https://thepoliticalfix.substack.com/p/the-political-fix-with-atmanirbhar
What explains this shift from 'protectionism is no less than terrorism' to 'we must reduce 'wasteful expenditure.'.
You might think it was the Covid-19 crisis, yet Modi has been moving towards protectionism from much before: https://thepoliticalfix.substack.com/p/the-political-fix-with-atmanirbhar
You might think it was the Covid-19 crisis, yet Modi has been moving towards protectionism from much before: https://thepoliticalfix.substack.com/p/the-political-fix-with-atmanirbhar
Covid-19, of course, might have accelerated this trend.
But what lies behind it? Especially when many of the economic thinkers who have worked with the Modi government considered protectionism a Nehruvian era relic? https://thepoliticalfix.substack.com/p/the-political-fix-with-atmanirbhar
But what lies behind it? Especially when many of the economic thinkers who have worked with the Modi government considered protectionism a Nehruvian era relic? https://thepoliticalfix.substack.com/p/the-political-fix-with-atmanirbhar
Is it Swadeshi ideology?
Bureaucrats taking over – Cadre vs Harvard, so to speak? (If you'll allow me to adapt Modi's phrase)
Fear of China? A desire to emulate China's previous decades?
Or something else? https://thepoliticalfix.substack.com/p/the-political-fix-with-atmanirbhar
Bureaucrats taking over – Cadre vs Harvard, so to speak? (If you'll allow me to adapt Modi's phrase)
Fear of China? A desire to emulate China's previous decades?
Or something else? https://thepoliticalfix.substack.com/p/the-political-fix-with-atmanirbhar
All of that, plus much more on the Political Fix, my newsletter on Indian politics and policy, which includes, headlines, analysis and links to the best pieces from around the web.
Sign up here: http://thepoliticalfix.substack.com
Sign up here: http://thepoliticalfix.substack.com
6 months later:
"India’s withdrawal from RCEP is a turning point in its trade engagement. It reflects the profound influence of inward-looking mindsets on its current trade policy, making India’s trade outlook more circumspect and selectively engaging." https://iit.adelaide.edu.au/news/list/2020/06/09/indias-trade-policy-embracing-national-interests-and-selective-engagement
"India’s withdrawal from RCEP is a turning point in its trade engagement. It reflects the profound influence of inward-looking mindsets on its current trade policy, making India’s trade outlook more circumspect and selectively engaging." https://iit.adelaide.edu.au/news/list/2020/06/09/indias-trade-policy-embracing-national-interests-and-selective-engagement
"Would be a strategic mistake for India to accept [protectionism], just when it has rediscovered its ancient roots as a trading nation... Economic isolation at this turning point... will be a strategic mistake." - Vijay Kelkar, RA Mashelkar, @CafeEconomics https://www.livemint.com/news/india/india-must-remain-vocal-for-global-11594822682912.html
