ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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India-Japan Trade-Friendly Arm-Twist

licensing now restricted to relatively large projects, one may justifiably expect the scrutiny of the licensing authorities to be more thorough than it was in the past. The subsequent scrutiny by other agencies, if they merely endorse the decisions of the licensing authorities, are a patent waste of time; on the other hand, if projects already licensed are turned down on various grounds, inevitably inter-departmental deadlocks would result and major Plan investments would be held up. Actually there is no reason why the scope of the scrutiny at the licensing stage cannot be enlarged to cover matters like the pro. jects' import requirements or their implications from the viewpoint of concentration of economic power. As for the Monopolies Commission, this journal has repeatedly stressed that it should concentrate on the operations of enterprises functioning in monopolistic or oligopolistic market situations. Through its work in this field, the Commission can hope to make some impact on industrial costs and prices whose relevance for the public interest is more clearly identifiable than that of 'concentration of economic power'.

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