INDIA CHINA PACTS LIKELY TO BRING IN $ 100 BILLION

A Good step towards development but it feels like again the Indian markets are going to be overcrowded and dominated by the Chinese and Japanese and the Indian manufacturer and entrepreneurs are going to suffer . Can’t understand that why alternatives are not being developed to create and innovate things ingenuously rather depending so much on outsiders
More over cash-rich China is looking to outwit rival Japan by pledging to invest billions of dollars in India’s railway, manufacturing and infrastructure projects during President Xi Jinping’s maiden visit to the country rather than actually doing this for the sake of development.

This becomes more clear when Xi makes the following statement “We can invest far bigger amounts than Japan and finish projects in India far cheaper and faster as we have a proven record in this record in this regard,” he said adding that China could be committing far higher than Japan’s USD 35 billion.
So it’s quite clear by now that the other countries are trying to take good advantage of changed government of India. In such a manner not only the general public suffers but also the indigenous industries going to suffer to a great extent.
Even though it will give an image that industries will prosper but only the supporting industries will, that are those which supply various resources not those which can bring in those technologies and services and produce them within the country leading to a little increment in the number of jobs and thus hiking up employment to certain extent.

But again after a few years the cycle will repeat itself as India is already filled with a plenty of foreign industries and MNCs and there will be a very little existence of our own innovative industries and indigenous products and we will be depended on the other countries. And in the name of high profile jobs we will be outsourced that’s it. And if our government was so concerned about speeding up railways, why then it didn’t first of all gave opportunities in the hands of private player out there of our own country.
So where the actual development taking place is is a BIG question.

Contributed by

Indraneil Lahiry

B.Com I year

 

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