ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Temporary Brake on TELCO

August 8, 1970 cause it is abundant, if it is possible to process it further and export it in a more finished form. One is still to know why we should deplete our iron ore reserves to export ore in vast quantities to Japan so as to enable that country to process it into steel for export (some of it back to us)! Government also needs to make up its mind whether it wants to have a dual industrial system: an inefficient domestic sector with a modern export- oriented sector (which is what the export policy resolution suggests for textiles). Exports are still not looked upon as part of a natural market for Indian goods, but are treated as an abnormality to be tolerated within limits. It is only a healthy domestic cost-efficiency situation (whatever the differences in- troduced later by transfer payments, say, through excise duties) which can provide a viable base for exports.

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