Everyone in India is very concern about the Indian currency and
its devaluation. The continuous decline of GDP. We know that current account
play a vital role in the GDP of a country. Indian is facing acute deficit in current
account. The finance minister of India also ask Indian not to buy foreign
goods, especially gold as it contribute major percentage of import bill. But does
anyone ever think why we Indians buy foreign goods and services. We always
blame others to hide our own mistake. It’s true that everyone wants value for
money. No one wants to waste their hard earning in buying goods which is not
value for money.
With the decline of the Indian currency and also decrease in
Indian GDP, Indian were ask to buy only made in Indian goods and services. Why
they ask to buy if they can made goods and service worth for money that, not
only in Indian but whole over world would buy those goods and services.
We are not accepting the fact that most of the Indian goods and
services are not competent enough for the global market. We don’t buy goods
because they are made in Indian or US, it’s because of the goods are value for
money.
If we see the China, they are having current account surplus. This
shows that they have huge demand of chines goods in world. We personally know
that how China have sold their goods in this competing world. We Indians can
also make our goods and services strong enough to compete in the world market.
And there is some example of Indian good brands that are competing in the world
market.
Asking Indian to buy made in India goods during CAD is short term,
instead we have to focus on how to improve the goods and services that it will
stand the global competition.
Think about long term, think about sustainable development.
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