OpenTube

Why India Fell Behind While the Rest of Asia Boomed

Ceramic

590,741 views

A video covering the history of India's License Raj, the system of extensive government regulation and licensing that governed the Indian economy from independence in 1947 until 1991.

Sources used:

https://www.piie.com/publications/wor...
http://news.bbc.co.uk/2/hi/south_asia...
https://www.brookings.edu/articles/so...
https://www.asianstudies.org/publicat...
https://www.elibrary.imf.org/view/jou...
https://www.utu.ac.in/DManagement/dow...
https://www.autocarpro.in/opinion-blo...
https://www.thequint.com/news/india/i...
https://thewire.in/government/full-st...
https://cxotoday.com/hardware/india75...
https://www.imf.org/external/pubs/ft/...
https://www.indiabudget.gov.in/doc/bs...

Music used:
Luxury Elite - Parliament Blue
Virtualsoft Home - Corporate Realities - Open Windows
slowerpace - Casual Friday
vcr-classique - seychelles
vcr-classique - oceanic glare
Luxury Elite - Cool
Dan Mason - Projection Model

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20 Comments

@ceramic01 Creator 5 months ago Pinned

No license or permit is needed to view this video, thankfully. Join the Discord! https://discord.gg/zPjhcWx2R8

@gandalfgreyhame3425 4 months ago

In the early 1980s, I remember meeting an Indian PhD student here in the US and asked him if he thought India had the potential for growing its economy and booming like the Asian Tiger countries were doing at the time. He just about spat out this derisive answer that he didn't think India was going to ever get out of its lockjammed system in a thousand years.

@rozkaz661 5 months ago

India in its first 40 years is a great awnser to the question of what would happen if you decided to combine the worst aspects of socialism and capitalism into a single poorly ran system which set itself goals detrimental to itself

@Average_nobody1124 5 months ago

Somehow managed to combine the worst parts of Soviet state planning and British regulation 🤮

@Lord_Inquisitor7 5 months ago

If economics is brain surgery, India’s scalpel was a hammer

@lovetohate028 5 months ago

There was also a ban on the use of Gold, which ended up bolstering Dubai as a Gold Smuggling city

@jethro-r4n 5 months ago

Corruption is at such levels, EVERYWHERE, it's like having a billion termites in your wooden house, and wondering why your house is falling apart.

@clauvex7829 5 months ago

Asking Coca Cola of all companies to hand over their secret formula or else is pretty ballsy if you ask me.

@lephtovermeet 5 months ago

Oi, you got loicense for that loicense?

@rajk.9098 5 months ago

Licence Raj seems like a movie villain name to me 😂

@Sampleofgod 5 months ago

The UK ain't got nothing on pre-90s India when it comes to license

@rajendra82a 5 months ago

One man’s waste, fraud, and corruption is another man’s full employment incentive program.

@cane6074 5 months ago

Another reason why India suffered a debt crisis besides the oil shock was because the Eastern Bloc collapsed, which was a major source for foreign exports and one the few places India's were competitive. It was a major loss revenue when that disappeared.

@375DollarCarRacer 5 months ago

I love how outdated cars become with minimal competition and regulations, like in the entire eastern bloc

@Sid4president 5 months ago

The stories my parents tell of the country pre-liberalization are straight out of a horror story

@Adityalohani-y6h 5 months ago

Whoever gave the idea to name the new cola double seven had a very good humour for that time

@NexusApollo 5 months ago

I guess nobody told the British Raj civil service in the licence department, that India got its independence.

@rishisaini5269 5 months ago

Design wise, Ambassador is a pretty basic car. Then again, majority of Indians at that time didn't even had bike.

@lsequeira3139 5 months ago (edited)

Very informative. I was born and brought up in India and lived through precisely this darkest period of lost opportunity in the '70s and '80s.. The huge tragedy is that millions of Indians lived with grinding poverty and practically starved to death. Genocide by legislation. Thank you for this video.