Plain tales of the licence raj.

Looks at how and why India micro-managed its way to failure. Claim that India's natural advantages, such as cheap labor and low manufacturing costs, have been systematically overridden by economic policy; Argument that India has one of the most protected domestic economies in the world; Ban on the import of most consumer goods; System for the import of capital and intermediate goods; Failure of attempts to reform export system; Over-regulation of business in India, exemplified by the Monopolies and Restrictive Trade Practices (MRTP) Act; Imprudent deregulation under Rajiv Gandhi.