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Explanation for today's MCQs👇
Highlights of Important Editorials (10/08/2023) 👇
Syllabus: #GSII - Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment.

Highlights:
1. The article discusses the contentious issue of India's industrial policy, particularly its recent decision to impose import restrictions on certain goods like personal computers and laptops.

2.Critics fear the import restrictions revive memories of a corrupt past with shortages, arguing against government favouritism in choosing winners and losers and worrying about the government's ability to end these restrictions later.

3. Supporters believe the restrictions aid India's industries and foster a stronger manufacturing sector, considering well-planned rules can improve industry coordination.

4. They acknowledge past failures but highlight changed conditions, a larger market, and milder restrictions aimed at reshaping imports to attract viable investments, particularly in sectors like mobile phones that offer job and learning opportunities.

5. China and East Asia succeeded due to exporting but for India, exporting is tough because it needs an open trade system, but global support for it is declining.


#Keywords: Import restrictions, De-industrialisation, Economic competitiveness, Protectionism, Open trade system.
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2024/11/20 11:24:14
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