Like most commodities, foreign exchange too was chronically short during the License-Permit Raj, especially during the “garibi hatao” phase of the early 1970s. So, concerning films demanding foreign exchange, the government allocated only token amoun...
Senator Daniel Patrick Moynihan, known for his outspoken candor when he was the U.S. ambassador in New Delhi in the mid-1970s, used to enjoy comparing the port cities of Singapore, Rangoon and Calcutta. In the late 1940s they were much alike: bustlin...
Steel production began in the private sector in British-ruled India when Tisco was set up by the Tatas in Jamshedpur in 1907. But independent India aborted that incipient revolution. Unfortunately, the industrial policy resolutions of 1948 and 1956 r...
