Article;
Big Trade-Deficit with China Excellent
Comment;
India is labor
rich and wages are low compared to China therefore India should specialize in
labor intensive products. But, since people do not have skills and the economy
technology, our productivity levels and per capita income is low. The writer
says we need to export surplus… Therefore from this point of view we have a
surplus of food grain stock and we can export the surplus. Indian economy is
good as far as production of food grains is concerned. Since India is land and
labor rich it should specialize in agricultural products and export the
surplus. Skills development is another area where the Indian economy can cash
increasing productivity of the masses but needs investment…
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