India's Trade and Financial Relations with USA Since 1970
Indo-US Relations in terms of Trade,FDI,Economic& Financial Assistance&Aid before&after emergence of New Economic Policy
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This book is mainly highlighted how India became a good trade partner with US while India believed socialistic economy.At the dawn of Independence India was basically an agrarian economy. The than, Prime Minister, Mr. Jawaharlal Nehru acted under the demonstration effect. Thus, in the five-year plans India aimed at rapid industrialization, employment creation and to alleviate mass poverty. To establish industries India had to import machinery and capital goods along with technological assistance from the developed world. Consequently, along with import of capital equipment's and technology Ind...
This book is mainly highlighted how India became a good trade partner with US while India believed socialistic economy.At the dawn of Independence India was basically an agrarian economy. The than, Prime Minister, Mr. Jawaharlal Nehru acted under the demonstration effect. Thus, in the five-year plans India aimed at rapid industrialization, employment creation and to alleviate mass poverty. To establish industries India had to import machinery and capital goods along with technological assistance from the developed world. Consequently, along with import of capital equipment's and technology India had to seek financial support in the form of borrowings and aids from the developed countries. To materialise these economic objectives India had to depend heavily on the developed countries like USA, USSR, UK, Japan and Germany etc.Post independence economic history of India reveals that initial requirements in terms of import of capital goods and equipment, technical know-how as well asfinancial assistance were mainly supplied by the USSR. India successfully managed to achieve the economic policy, objective of import substitution during the sixties and seventies.
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