Obama’s big visit to India was pegged as a huge plus for US exporters. I can see the argument-India has over a billion people, and as it’s economy grows, it will need all kinds of stuff-jetliners, roadbuilding equipment, medical supplies, drugs, raw materials, etc.
But I don’t see things as all that rosy; first:
-India has tradiationally been protective of domestic industry. Which is why the Indian car industry is mostly limited to joint ventures, and domestic manufacturers re given preference in access to capital and internal sales.
-India needs basic investments in things like modern roads, sewage treatment plants, water treatment, and infrastructure.There might be a market for US engineering and construction firms, but most of the money will be spent in India
-India has its own engineering and scence establishments-why would they hire American firms to do jobs that they can do?
India is pretty far away-but China is much closer.Goods could be shipped to India much more cheaply than from the USA.
Yes, I think firms like Boeing and Lockheed-Martin can do business in India…but I don’t think it is much of a market for consumer goods or agricultural stuff.
Kind of like how in the 90s we thought trading with China was going to be a huge boost for our exports. I mean, all those people! India is not exactly the same as China, but at the end of the day, they can probably still make and do all the things we can offer at lower costs. So yeah, I don’t see India being a “huge” market for exports.
Most of the powerful players in trade are the international corporations with no allegiancies to any country. Free trade is a mantra that disguises the fact that we allow trade into America and other countries protect their industries and jobs from American intrusion. Business execs have helped formulate the treaties that sounded good but in truth traded away our competitive advantages for short term profits. As long as they are in charge, America will be screwed.
You can not go to India and take a job from their workers. I tested it a few years ago. They made it clear if I went there to work, I had to bring jobs for them. I would have to have a startup that employed Indians. Look about you. we don’t do that. We do not protect our jobs or our interests here. If you will work cheaper ,we will give you an American job .
Indian protectionism has decreased a lot over the last 20 years. It’s a much more open market than it used to be. Internally, state intervention in industry has also decreased a large amount.