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

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Soviet Collaboration in Indian Steel Industry, 1954-84

Soviet Collaboration in Indian Steel Industry, 1954-84

Beginning in 1955 India placed a considerable degree of reliance on the import of capital equipment and technology from the Soviet Union for establishing a basic and capital goods industry in the public sector. This article evaluates Soviet collaboration in the steel industry over a period of 30 years on different counts such as the degree ofindigenisation allowable, the comparative cost of design and engineering and equipment, the extent of transfer of technology, etc. While the study finds no evidence to support the hypothesis that Soviet soft, long- term credit is tied through commercial agreements to the sale of heavy industry equipment at higher than world market prices, Soviet terms and conditions since the mid-sixties have been systematically designed to perpetuate technological dependence.

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