Atmanirbhar with a twist: India’s different from Korea, Latin nations
- Swaminathan S Anklesaria Aiyar
- Updated: Jun 29, 2024, 19:17 IST IST
Will India emulate East Asia's export-driven success or follow Latin America's crony capitalism pitfalls in its pursuit of economic dominance?
Last week, this column described how the govt’s atmanirbhar policy was evolving into an Indian version of the Korean chaebol, where industrial conglomerates are backed by their govt with support and subsidies to become world-class national champions. Similar policies mark other East Asian countries.
Will India emulate East Asia? Or will it go the way of Latin America, which also aimed to create national champions with high tariffs, quasi-monopolies, cheap credit, and ended with disasters in country after country? The chaebol bribed politicians.
Will India emulate East Asia? Or will it go the way of Latin America, which also aimed to create national champions with high tariffs, quasi-monopolies, cheap credit, and ended with disasters in country after country? The chaebol bribed politicians.
