This article mainly
traces out the new initiative of India being the weaponry exporter rather than
then importing them and its economic impact. According to recent article in the
Washington Post, India is the World's largest Arms importer. Recently, the
newly elected Prime Minister Mr. Narendra Modi initiated a plan to making
weapons (India make) in India and exporting to other countries. It seems, definitely
a step in the right direction for India.
Making India as a trade partner would
be a good idea for other counties. India is a federal state with a
parliamentary form of government. As per this initiative, the Prime Minister of
India has planned to give multibillion contracts to Indian companies and also promoting
international collaboration through partial foreign ownership. In my opinion, what
Mr. Modi is doing is that the right way to go to open the sector for private
companies and it's a smart way of turning things around the present sluggish
Indian economy.
I am really thrilled to the idea of
India shifting from importing weapons to exporting them to other countries. If
India becomes successful in this initiative, this will increase the volume of weaponry
goods and lower terms of trade. Imports do benefit the economy. For the
importing countries, it will reduce price and increase competitiveness. Imports
help to strengthen with variety, competition and new ideas. However, one of my friends
totally disagrees with my point of view. She thinks that exports benefit the
economy rather than import, because you can sell goods for good price and help
with demand management.
To conclude, I like India's new
initiative and I strongly believe that India will be better of producing
weapons rather than importing.
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