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Indo-US Economic Relations - Essay Example

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This essay "Indo-US Economic Relations" disclosures the history of the economic cooperation between India and the U.S.A. The writer particularly focuses on the technology transfer and proposes solutions to overcome the socioeconomic barriers between both countries. …
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Indo-US Economic Relations
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Download file to see previous pages The economic growth of a country is often directly connected to the amount of knowledge and the skills which the population of the country can lay claim to. A few thousand years ago, projects like the Pyramids could be completed simply with a food surplus, slave labor, and a rather significant investment of time to create wonders of the world. By utilizing simple brute strength and relatively rudimentary technological know-how, a civilization could make sure that it would be remembered for eons to come (Pacey, 1990).
A few hundred years ago, the industrial revolution came with the idea that the mills and industrial plants in a country were its real strategic assets and the central cause of its economic growth. In those times, a country could only take up monumental projects if it had an extensive industrial base (Pacey, 1990). The best example of taking the industrial revolution to its very pinnacle is the American space adventure that landed a man on the moon.
In the present day and age, a country needs skills like engineering, technical know-how, and most importantly, a continuous inflow of the latest technological implements which let it be taken as a developed nation instead of a developing one. While many nations are racing each other to become a part of the current set of developed nations, I think that India is one country which is closer to getting the status of a developed nation than others who were at the starting line with India.
The recent agreement between President George Bush and the Indian Prime Minister Manmohan Singh concerning collaboration and technology transfer in civilian nuclear energy programs is one such step that has put India in the lead over countries like China, Brazil, Pakistan, and Egypt. President Bush believes that this agreement would bring India at least partway into the folds of the Non-proliferation Treaty (NPT). ...Download file to see next pagesRead More
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