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Strategies & Market Trends : India Coffee House
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To: Mohan Marette who wrote (3171)11/4/1998 10:40:00 PM
From: JPR  Read Replies (1) of 12475
 
Mohan:
It appears that these banks are awash with NRI and local money. Pretty soon the banks will start giving small gifts to attract more deposits.
By and large the typical Indian hoards money, gold, & silver. Also the Indians are experts in recycling everyday objects like bottles, cans etc.

Clinton Administration targets 100 South Asian institutions, with whom American companies are barred from doing business. Eg: DRDO, BARC ISRO, IIS are some of the notable ones.

It appears that all these retrograde hegemonic practices make the Indian resolve stronger to make progress on their own. Take the examples such as Super Computer, Cryogenic engine Heavy Water etc. The successive American Governments still have not gotten the idea that these practices can only slow down, but not stop the progress that India wants for her citizens. I want to note that these restrictive practices are selectively applied to India and a few other countries.
Many of the European countries and Japan are free from all these restrictive practices.

I understand that there were 5 sanctions against India.

1: Johnson Administration . No food to India for India's stand against Vietnam war. Result India has become self sufficient in food.

2: 1971: India-Pakistan war, with US naming India as aggressor. US stopped developmental loans. Did not stop the birth of Bangladesh and routing of Pakistan.

3: 1974 India tested a nuclear device. Canada imposed sanctions. Result, No impact on India's nuclear program.

4: 1990: No super computers to India. Parallel processing made US sanctions meaningless.

5: 5/1998: Our national hero's Arms control act known as Glenn Amendment. US exports to India are significant and mean a lot of jobs to Americans. This will dampen their resolve.

Source: India Abroad

Don't worry; We have had at least a 5 thousand year history. We have seen them all. India will survive and thrive with or without the sanctions.

JPR

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