And on top of that the Government is limiting fiscal deficit, no public sector to take on the foreign sector slump. Neoliberalism is a disease.
In China meanwhile, when a recession occurs in the west the government increases domestic spending to lessen the impact. India should learn a thing or two from its neighbor.
Yet, even in those trade negotiations, India has been relatively less liberal than in the era predating Modi — angling for more state control over sundry policy issues and seeking to limit the exposure of many of its sectors to foreign competition. If India wants to attract foreign investment, it might have to change tack.
They are complaining that there are too many regulations lmao.
History has shown that export promotion policies in absence of heavy state intervention doesn’t work.