Why we should not vouch for protectionism, again!
In the Times of India editorial DIGITAL INDIA IS DYING dated(July 4, 2016) the author has made a pitch for some sort of protectionist policies being implementing to ‘save’ the digital start-ups in India which are in a nascent stage from their international or more importantly American competitors with deep pockets. The author makes a compelling case for Flipkart, Snapdeal and OLA which are facing stiff competition from Amazon and Uber. The author airs his fears of India becoming the digital colony of America just like Europe has been while praising china for it closed market which have given it a home grown versions of google and Facebook. While I don’t dispute the writers claims about Indian digital companies facing an uphill task against their American rivals but I doubt if we should ever take sides. We had a closed economy for a good 40 years simply because we felt so burnt and exploited of foreign colonial exploitation that had just ended that we missed the global growth...