Friday, November 14, 2025
Why didn't they do it earlier?
The United States is India's top export market , accounting for $10.8 billion or 30% of all textile and apparel exports from the country." So, the impact of US tariffs "has been severe on Indian textile and apparel exporters, with 34% of businesses reporting that their sales revenue has reduced by half." India Today. Two days back, "The Centre...said that India's global export of textiles, apparel and made-ups grew by 0.1% during April-September 2025, compared to the corresponding period in 2024." Exports grew to around $8.5 billion from $7.7 billion. DH. Clearly, this growth in exports to other countries is not enough to make up for the loss of the US market. And so, "The ministry of chemicals and fertilizers has rescinded 14 quality control orders (QCOs), including polyester fibers and polyester yarn with immediate effect in public interest." HT. If revoking QCOs was in public interest why didn't they do it earlier? "India's sweeping consumption tax cut drove shoppers to splurge on items from cars to kitchenware during the month-long festival season," as "Spending between 22 Sept. and 21 Oct. - the period between the Hindu festivals of Navaratri and Diwali - increased 8.5% from the same time last year." ET. The goods and services tax (GST) was simplified and tax rates on a range of goods were reduced or discontinued with effect from 22 September. pib.gov.in. "On the eve of a sweeping overhaul of India's tax regime, Prime Minister Narendra Modi...said the next generation of GST reforms will 'accelerate India's growth story', ease doing business, and bring relief to the poor and middle class." ET. If cutting GST is so beneficial why didn't they do it earlier? "America dominates the semiconductor chip supply chain, from design to advanced manufacturing, while China leads in rare-earth refining, graphite, and magnet production, giving it vast influence over important industrial supply chains," wrote Ajay Srivastava. "Homi Jehangir Bhabha, often referred to as the father of Indian nuclear program, set up Indian Rare Earths Ltd (IREL) in 1950. He did so to bolster India's energy security as radioactive thorium had the potential to be used as fuel in nuclear reactors," wrote T Surender. The insatiable hunger for electricity, without causing pollution, of the US tech companies has resulted in a race for small modular nuclear reactors using thorium. NBP. "India is home to one of the largest thorium deposits in the world - estimated at between 457,000 and 508,000 tonnes, largely concentrated in the monazite sands of Kerala, Tamil Nadu and Odisha." NBP. Despite Bhabha's foresight why didn't they do it earlier? "India wants to become a global chip major, but the odds are steep: competition is fierce, and India is a late entrant to the race to make the most advanced chips." CNBC. Computers and chips have been around for over 30 years, so why didn't the do it earlier? That's why India is backward. And poor.
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