Comments by "红火树 RedFireTree" (@firetree2007) on "India Rejects RCEP Trade Bloc, Citing Free Trade Issues With China | World News | WION" video.
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Why did trade for industrial products, such as an axe, begin in the first place? The reason is simple: someone could make it better and cheaper than you could by setting up everything yourself. That’s why you might trade the curry you produced for an axe. The blacksmith could make the axe but didn’t have curry, so he also benefited from the trade.
The same principle applies today. If you want to produce everything on your own, that's fine—but can you make it better and cheaper than others? Clearly, you cannot. Name a single industrial product in the global market that is entirely made in India. I can’t find any.
With India's R&D spending at only 0.65% of its GDP, or $23 billion, the same amount as what a private Chinese company like Huawei invests in R&D annually (around $25 billion), there's little concern about new technological breakthroughs coming from India. The same goes for India losing or driving away many foreign companies. Even with a target of $110 billion in foreign direct investment (FDI), the actual figure is just $10.6 billion.
Given these realities, it's clear that India is unlikely to produce high-quality or innovative products anytime soon. There’s no real cause for concern—India will likely remain a predominantly poor and backward agricultural country.
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