Amitav Acharya

So there would be, of course, further evolution.

But I think basically India is going to import more high technology things from Europe, especially aircraft.

And they're already importing automobiles.

And India has been actually investing in, say, iron and steel, for example.

And the French have invested in India in aluminium.

But I think this will be more of a resource-cum-industrial mix rather than a very high-tech, purely agricultural resource export from India to Europe.

Yeah, I agree.

But just keep in mind, let's keep in mind that China

was not always like that.

A lot of the exports from China to the rest of the world were actually in terms of products that were built with technology that was borrowed from outside.

For example, China can now export fast trains, but originally it got the technology from Germany and Japan.

So what I'm talking about is that India could also do the same thing.

So, one of the problems of Indian economy is that it has not been integrated well into the global supply chain because of the protectionism.

There is a political argument, ideological argument in India about having big corporations, foreign corporations, but Europeans may be more acceptable now than American corporations.

Now it has a chance to have more investment and then use that to move up the supply chain and move up the industrial scale.

Also in the services sector, which India is very, very well endowed, especially high technology services sector.

So this is an opportunity.

India is not going to have the kind of industrial revolution like China had.

That stage has passed.

It's not going to become the factory of the world that China has become.