New Approach to Inflation


in Indian trade. Bulk carriers are, therefore, most profitably employed in cross trades betwen countries other than India. There is some confusion in all this. The author begins the chapter by explaining that participation of Indian tramps in the Indian trade is limited by low freights, that low freights can be countered by building a fleet of bulk carriers which operate at lower costs per ton, but that these bulk carriers would be uneconomic in Indian trade and should, therefore, be employed in cross trades. This still leaves us with the problem of increased Indian participation in the Indian trade.