Why protectionism is bad for India

Make America Great Again, Make in India; both catchy slogans but both will end up harming the country more than helping it. Is Modi's new policy of raising import duties, which are already the highest in Asia, a return to Protectionism, a failed Congress era policy? Those who do not remember the mistakes of the past, are doomed to repeat it. This is a highly insightful video for those wanting to understand how countries work.

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[amanshukla]

2 years have passed and nothing has changed.
Modi Govt. recently announced a 5% increase of customs duty on imported TV sets.
India never learns from its mistakes, sadly.

[ashutoshsharmash]

If we drop import duties, it gives an incentive for companies to come and invest in India to manufacture locally for consumption.

It really needs to be a free market economy.

[kamineniprabhu]

Its been a year and a half where's the universal health care system !!

[ndgprasad]

There no country in this world without protectionism. Level of protectionism matters. Even Singapore comes to that category. What about Germany? Its economy is the same.... Indian IT no needs protectionism because they are not commodities but services.

[jaginirohit]

Brother, higher import duty also sees that the companies prefer manufacturing in India. Which results in employment generation also.

[harbinger_]

Apan China ki itni beizatti karte hai but ek democracy hone ke baad bhi ke communist desh ke barabar kuch Nahi kar pate...

[harshepic]

came back to the channel after so long💓

[eraiyanbuvetrivel]

Its not a case now we now have the capability to innovate new technology and that too those want to sell here can start their manufacture points in here and get use of the subsidiary

[featuregirls]

great video i get all the current updates from your channel keep up the good work

[gurudatta]

Good one that doordarshan music is the most hilarious one....and i strongly support railways being open economy...

[RAHULSWAT]

The good news got over like it was just a topic which u would say in ur next video

[manojr]

You're right, we've to compete with global competition by improving our manufacturing by 24hr power(so machines aren't idle), lesser bureaucracy and corruption, etc
The money we pay more on protected Indian goods would mean less money to spend on other products, thus other industries will be affected.

But there have to be justified (not too much) tariffs on some products
* dumped like Chinese steel, exported cheaper than their manufacturing cost (by CCP banks propping them up, bad loan led overcapacity cum slowing Chinese infrastructure investment, electricity subsidies, etc). Some countries can buy the artificially cheap steel and make higher tier products (though that might lead to Chinese steel monopoly in time).
* questionable ones like adulterered foods (punish our criminals too), phones which send data to be stored in China (usually to study & improve the product and cloud services, yet risky under authoritarian regime.. they're shifting though) and products not within pollution guidelines. Say if the fireworks have worse chemicals than Indian.
And educate people to buy a bit better quality products (better Chinese, Indian, Jap or any) which would save money through much lesser repairs, energy saving, longevity, etc

[VindulaP]

There is a difference between protectionism geared towards import substitution industrialization (ISI) and protectionism geared towards export oriented industrialization (EOI). India followed the former and failed while South Korea followed the latter and became an industrial society within one generation.

[lecorbusier]

If anybody didn't understand
We are going to buy Karbonn phones with prices of iPhone
Exactly not like this but you got it

[vector]

Great video. They make some pretty reasonable points for free trade.

[rajatram]

OK this is something new i did nt knew abt this protectionism

[whyamiherenow]

So you want to buy everything from other countries. So what happens if products become so important that if currency rate increase many times. We have buy it for that rate.

[prathammohansharma]

Very informative video got to know how cynical and prejudice people think like.

[JT-zlyp]

correct...now assam has banned powerloom products from gujarat

[smthsmthsmths]

This isn't as black and white as you show. When foreign capital comes in our growth skyrockets. That's absolutely correct. But the profits of these growth and what we work for goes outside as well. Every country has a certain potential for growth. Developed economies have already grown as much as they could've and need bs consumerism to keep going. So they pool their capital to countries that haven't been through their growth phase. We do the work and they reap the profits. We could've chosen to keep all the profits inside and keep our population in relative poverty or we could've effectively sold our country to foreign capital. It wasn't an easy choice. That said i lean towards your pov, india still has a lot of growth potential