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Evaluating India’s trade policies

All Things Policy

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How Do You Allocate and Preserve This Foreign Exchange?

Every single bit of trade policy was centered around how do you save this foreign exchange? How do you allocate this foreign exchange. So there was very little thought given to saying, how can we augment this foreign Exchange? Somehow, we probably had little faith and belief in our own abilities to take on the rest of the world, be competitive and therefore export more and earn foreign exchange. And we started off on this back foot. We started off being defensive, which meant that instead of really saying that, let's go ahead and compete with the world and earnForeignEx.

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