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The Analyst Magazine:
Indian Economy :Second phase reforms
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From about 1965, the dominant factor in Indian politics has been nepotism rather than able governance. This nepotism has manifested itself through various regimes, which have used economic policy instruments to further the cause of certain vested interests, rather than promote the cause of the country. As a consequence, it has so happened that, even if on some rare occasion, some government has contemplated a bold step, that has inevitably fallen on deaf ears. This is precisely what has happened with India's economic reforms in general and with respect to WTO commitments in particular. The mission of building a modern India has been abandoned for all practical purposes from about the late sixties. The major educational institutions and scientific laboratories that we are so proud to flaunt to the rest of the World were by and large conceived before the seventies. Till date, the only issues in which India has consistently made her mark and still comes out clean, are those pertaining to territorial acrimony and war against international terrorism. While, that in itself is no mean achievement, I would imagine that the mission that the country had defined for herself, at the stroke of midnight on August 15, 1947, envisaged much more than that.

The patent regulations set in place by WTO, was conveniently interpreted by the vested interests in India, as an assault on our freedom, when it could have been viewed more positively by our several governments, as reason to increase spending in and improve the quality of education and research in science and technology. To illustrate a point I made earlier, let me mention that in the nineties, when Dr. Manmohan Singh was the Finance Minister of India, he had announced a policy, that each Rupee spent by Indian Industry on R&D would be matched by an equivalent contribution from the government. This was done to encourage R&D by industry and change the mind set of the country, which encourages the belief that technological upgradation must invariably depend on import of technology from developed countries. However, there were few takers for what any industry of a developed country would enthusiastically jump for. Consequently, in terms of science and technology, we remain as backward as we were before the reforms were initiated.

 
 

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