Pankaj Tembhare

7/27/2019 Pankaj Tembhare

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Roll No. 609

2013-14

M.I.E.T. GONDIAName: Pankaj Tembhare

[IS SWADESHI RELEVANT FORINDIAN ECONOMY IN PRESENTSCENARIO]



Today our world is facing a crisis in relation to

its economic conditions. We are nearly close tothe first decade of the 3rd millennium. Until very

recently this decade was experiencing aneconomic boom. The index of the equity market

arose to as high as 21 thousand. There washope of endless prosperity everywhere. Then

suddenly a financial crisis started in August2007 in United States. The United States

economy is mainly a credit economy. Peopleborrow lots of money from banks for investment

in houses, cars and for many other purposes.They used to earn good wages and were able

to pay back regularly and the system went onwell.



The loss of balance started when manyborrowers lost the jobs. Repayment of loans

was delayed. The banks lost their cash liquidity.One by one all the banks were closed. Further

loss of employment followed. From 2008 alladvanced economies namely United States,Europe, and Japan went down in recession.

Crisis passed on to all sectors. Demandslumped. Production plunged. Job loses arose.

Credit market remained still. The world tradecontracted substantially and it collapsed in

2008. Export from major exporters likeGermany, Japan and China fell by about 35%.

As a result of all these, widespreadunemployment and social stress occurred. We

are now passing through the 1st majorrecession after the great depression of 1930's

in the last century.



Foreign investors invested a huge amount of

money in India’s co -operate sectors. Externalfinancing is so deep in India’s economy. Whenthe recession began foreign investors withdrew

their amount here to secure their positions inthe home. Foreign remittance from gulf

countries also slowed down as the oil prices felland the gulf countries went down in recession.Exports demand to United States, Europe andthe Middle East has fallen. Many sections of

people became jobless. In the German jewellery industry itself it is said that three

hundred thousand people lost jobs. Areas ofconstruction, transportation, trade, tourism andhotel industries have all been affected by the

global depression. Migrant workers fromBengal, Bihar, Orissa and Assam also face loss

of employment.



Corruption of Indian leaders results in great fall

of our Indian economy but we are also not

aware properly for this issue. we are selecting

the people for leadership which are not eligiblefor their job and persons which are able, we are

not selecting them. This is one of the major

problem with us and indirectly we are also

responsible for decreasing our economy.



Some people have recently started a campaignto make India 100% swadeshi. They want that

our industries, technology, education,healthcare, language, food, dress : everything

must be swadeshi.

: We too respect great Indian spiritual culture.But, there are two aspects of this : individual

and political. We think every individual shouldbe free to choose his or her lifestyle (such asfood, dress, religion etc). Even Indian culture



never forced its ideas on any individual ornation in the past. As to political aspect, we

have to discuss merits or otherwise of aswadeshi economy.

A company makes profit only if people buy itsproducts at the price fixed by the company. So

let people decide whether they want to buy

such products or not. If these products are bador inferior or expensive compared to goodsmanufactured by Indian companies, people

would not buy them. Besides, foreigncompanies bring in a lot of capital, new

technology & new management techniques;they generate a lot of employment; give better

salaries to their staff than Indian companies do;pay huge amount of taxes.



If Ayurveda, Pranayam and Yoga can cure alldiseases, the whole world would start following

it. Why do you demand that government shouldban Allopathic science and permit only Ayurveda. You just sell your idea vigorously : if

there is a merit, it will be accepted by themasses. Then automatically, there would be

more demand for Ayurvedic doctors and peoplewill start studying your Ayurveda all over the

world. Then allopathy would die a natural death.



Many of the handmade indian things which we

can use proudly like handmade clay pots which

are made by our makers by their own handhaving so much designing. we can also use

indian traditional clothes having attractive

designing made by our indian designers. we

know that indian things are costly as they are

handmade but by purchasing this not only wecan help to increase our economy but also we

can help to increase the level of our country in

economic point of view



We can use many of the swadeshi things like

many of the foodstuffs ,mobiles,beauty

products,soaps,medicines,etc.which are somuch hyeginic and also very interesting .By

using these we can ultimately increase our

economic condition.



The model of development that India used has

not worked. The GDP of India has increased but

this is an extremely flawed measure of progress(Anialski et al, 2000). The trickledown effect has

not worked. The majority of the people in India

benefit very little from industrialization. And

they all lose when the Swadeshi model of

development is rejected. India, and the rest ofthe world, should look at Gandhi's philosophy of

Swadeshi to guide our economic and political

decisions.

To reject foreign manufactures, merely because

they are foreign and to go on wasting national

time and money in the promotion in one's

country of manufactures for which it is not

suited would be criminal folly and a negation of

the Swadeshi spirit."

This happened because the three main interest

groups with political power backed Nehru



(Baviskar, 1999). The capitalist merchants and

industrialists, technical and administrative

bureaucracy, and rich farmers all wanted rapidindustrialization because they stood to

personally benefit from it. Because these

groups had power Swadeshi was disregarded

and a model of rapid industrialization was

adopted, to the detriment of the majority of thepopulation of India.

Use of swadeshi Products is the only way to

improve our economic condition we can increase

our economy condition it is in our hand by using

swadeshi products and avoiding foreign products to

secure Indian money……….

Pankaj Tembhare

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