LONDON: The decision of the government of India to allow issues of capital for post-war developments, even if the schemes are still in an indefinite form, should provide a reminder to British manufacturers of India’s need of plant and equipment, writes “The Time’s” City Editor.

India’s industrialists are anxious to make every preparation within their power to avoid delay in carrying out post-war plans. The country’s enormous sterling balances give assurance that no exchange difficulties stand in the way of financing these re-equipment plans, and there is good reason why manufacturers in this country should, for their part, go as far as possible in making arrangements to meet the requirements of Indian industry at the first practical moment.

The action of the Government of India will enable schemes for post-war development to be carried a step farther than would otherwise have been possible under war conditions. The issues are to be invested in the meantime in defence loans in India and should not deter promoters from taking advantage of the conditions, since in any case the magnitude of India’s post-war requirements makes it certain that satisfaction of the demands of Indian industrialists must be subjected to some degree of regularisation.

Published in Dawn, May 26th, 2019