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Hokitika Guardian, 28 November 1929, Page 4

In view of the fact that the widespread attention given to Indian political affairs in recent years has tended s.uiewhat to obscure il:e importance of India as a world economic unit, it is noteworthy that the October issue of the “Monthly Review” of Barclay’s Bank contains an article of particular interest which emphasises the important posit on held by India among the greiit trading nations of the world, From the latest ' statistics available, it is seen that India o'copies the sixth place in the value of total imports and'exports combined, and it is also known from other data that the economic progress of this' vast country has been particularly’ marked during the last thirty years. A large proportion of India’s imports consists of mailuactured commodities, ]>rincipally cotton goods, machinery and iron and steel articles, whilst the exports are mainly in the form of foodstuffs and raw materials. The trade returns in more recent years* however, indicate that exports of maniifa' tured goods arc tending to increase, wlii.li leads to tlie expeetati n that the country is destined to play a more important part as a.n industrial nation. Although manufacturing activity in India is likely to assume still greater importance, it will employ only a comparatively small percentage of the population, the livelihood of the great bulk of which is agriculture, and the development’possibilities, of which will continue to be hopeful. Although at the present time India, is passing through a transitional period and its many problems calling for solution demand the highest degree of skill and political wisdom, there can he no doubt that the country is destined, under normal conditions, to erHjoy a steadily increasing measure of prosperity, as its economic development and the education of its people proceed.