ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Foreign Policy-New Imperatives

equipment has already adversely affected industrial machinery manufacturers in the country, including such public sector enterprises as BHEL and HEC. And, clearly, new investment in capital goods industries will not be easily forthcoming, especially if we also take into account the fiscal crisis facing the government so that it will not be in a position to undertake large investments to set up such industries in the public sector. Thus while the government may continue to talk of its commitment to fostering self-reliance, such talk has little meaning if its policies make the long-run decline of capital goods industries inevitable.

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