What was license raj

Writing about New Delhi in , the writer Jan Morris encountered this bureaucratese on a tourist handout. Jain blames the government for mishandling the migrant situation and contributing to an exodus 40 days after the lockdown began by arranging trains and buses just as factories are negotiating permissions to reopen. Banks remain unwilling to extend credit. In Bengaluru, Nagaraju Siddappa, one of the directors of Precision Sheet Metal Works, complains that officials in Tumakuru in the past few weeks made it impossible for a downstream supplier to his firm to open up.

Exporters are especially vulnerable as this depressing saga of threats to businesses and misconstrued messaging within the government apparatus plays out. Many exporters were already weakened by the complications of the goods and services tax regime.

Now, with China, Vietnam and Bangladesh running factories at close to normal levels, the risk of losing business permanently looms large.

Oblivious to this challenge, the Modi government has instead been arguing that the covid crisis will allow India to position itself as a manufacturing alternative to China. Tiruppur-based Elangovan has heard such predictions before. We cannot replace China for 50 years to come," he told a roundtable organized by Apparel Resources, an online trade publication. Rahul Jacob is a former Hong Kong bureau chief for the Financial Times, who covered the post reforms as a writer for Fortune and Time magazine.

Never miss a story! Stay connected and informed with Mint. Download our App Now!! It'll just take a moment. Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image. You are now subscribed to our newsletters. Premium Premium Semiconductor shortage hits smartphone shipments in Q3. Premium Premium India's pollution board says prepare for emergency step Premium Premium Norovirus confirmed in Kerala's Wayanad.

All you need t Premium Ruchir Sharma quits Morgan Stanley after year stint. Premium Berger beats Asian Paints on parameter which now matter Subscribe to Mint Newsletters. Internet Not Available. Wait for it… Log in to our website to save your bookmarks. Yes, Continue. The following table shows the difference in growth rate of the Indian economy as compared to that of other countries in Asia:.

Skip to main content. License Raj In , India was a new country racked by pains of the Partition and the dire poverty of her people. This was done in order to decrease the concentration of private economic power, and to place restraints on business practices considered contrary to public interest. Businesses had to have government approval for laying off workers and for shutting down Virtually shut off imports with high tariffs, low import quotas and outright banning of import of certain products.

India in had the highest level of tariffs in the world. Nominal tariff rates as percentage of values in were: In addition to over-regulating the private sector the Government of India nationalized heavy industry the commanding heights of the economy and built new state-owned enterprises SOEs in areas as diverse as jute mills to hotels to steel plants. Growth Rate of Industrial Production.