ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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From 50 Years Ago: Emergence of an Export Policy.

Editorial from Vol XIII, No 22, June 3, 1961.

...On the export front, we have all along been very complacent. Even the Third Plan Draft Outline hardly formulated any export policy. The ease with which we obtained external resources and a certain fatalistic attitude towards exports engendered this complacency. There are signs that this is now going [to] be broken. The export policy had not so far been an integral part of the Plan; it appears that it is now being properly integrated into the Third Plan. What has shocked us into action, one may ask... The idea of a passive export sector is now being replaced by that of an active exports policy. One indication of this is the upward revision of the annual average export target for the Third Plan from Rs 690 crores to Rs 740 crores. By the end of the Fourth Plan, the objective is to raise exports to the annual level of Rs 1,400 crores. Exports, for the first time, have been thought of as amenable to conscious control and as object of effort... It is only through the emergence of imbal-ance and the atmosphere of crises created by such imbalance that a major push can come. The process is broadly similar both in partially-planned or mixed economies. The only difference is that, in a mixed economy, perhaps, the imbalance has to go much farther before remedial action can gather momentum. The great stride forward in ex-port promotion which is to initiate such a major change in the economy still awaits the question, however: what is it that gave the big push?

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