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We prefer direct communication here so please do tag.Well so by your understanding we should stop importing everything and start making everything indigenous right !!
I don't understand then what's the point of trading with other countries let's be north Korea with it's "Juche" like policy.
I will give you an example: India import tunnel boring machine (TBM)from Germany and they make the best TBM in the world. India just needs few TBM like 5 or 8 of them. What's the point of setting up a plant for making TBM in India for just those 5 to 8 machines that we require. US also manufactures their own TBM but they knew to compete with Germans in the international marked would be tough but their internal market was big enough that setting up a plant was justified and they did it.
Not everything can be made indigenous and it's not commercially viable either, even China can't make everything at home either.
Why would Australia buy metro bogies manufactured in India, Can't they set up their own plant do you think they lack the technology ?
Why I said we should stop importing from Germany because we currently have leverage on trading with Germany, our trade balance is negative almost by $7 billion, if we start importing less
then Germany will feel the pain. We can buy stuff Like TBM from US because our trade balance is positive with US there is a margin that we can play with.
Every country want to balance their trade, so when I said India should stop importing from Germany I meant we should stop importing unnecessary stuff like dry fruits (which we import a lot from Germany)
I don't know some-guys just can't stop tagging others with names like slave mentality, I think it's about time they should grow up. This kind of behavior is normal in our neighboring country.
Now about the content:
That is a very niche example ..... Fact is if we don't manufacture in India , we will never be able to industrilize the country.... Stopping Import does not mean you shut down all transactions, it means Develop your own sources/competencies.... Our problem is we have non and the ones we have (IT/ITES) can not provide jobs for everyone.
A better example would be the import of Electric equipment form China which had touched a new high a couple of years ago, while our engineers from Elex were coding like coolies.