Word: bokaro
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...well come next spring.) Shastri has maintained his aid arrangements with both the big powers. The U.S. this year will give him $110 million (Washington's biggest aid outlay and due to grow), while the Russians provide nearly as much-including the huge Soviet steel mill planned for Bokaro. India's arsenal now includes both Russian MIGs and American tanks...
Grave Doubts. Lausche began by reading to Bell a passage from the overall foreign aid report submitted last March by a presidential advisory committee chaired by Retired General Lucius D. Clay. Plainly referring to the Bokaro project, the Clay committee wrote: "We believe that the U.S. should not aid a foreign government in projects establishing government-owned industrial and commercial enterprises which compete with existing private endeavors . . . Moreover, the observation of countless instances of politically operated, heavily subsidized and carefully protected inefficient state enterprises in less developed countries makes us gravely doubt the value of such undertakings...
Bell's answer began carefully. He noted that final Administration approval of the Bokaro plant was still pending. Said he: "I don't want to prejudge a question which will not come to me for some months. We believe in an economic system that has private as well as public capital invested in productive...
...Sick Child. Bell made a persuasive case for Bokaro-but the plan remains a difficult pill for Capitol Hill to swallow. Of India's three existing government steel mills, one was built by Great Britain, one by the Soviet Union, and one by West Germany. At all three, construction costs far outran estimates. At the Soviet mill, production costs have been higher than in the private plants. And the West German mill was, until recently, so plagued by mechanical difficulties and labor troubles that it was dubbed "the sick child" of Indian industry. It was with this record...
Bell continued with his explanation. A strong India, he said, is certainly in the U.S.'s best interests. To become strong, India must build its industrial potential, and the Bokaro plant is vital to this aim. Bell insisted that Indian government officials and private citizens are almost unanimous in their belief that the Bokaro plant should be government-operated. He had, he said, recently talked to J.R.D. Tata, head of one of India's two private steel mills. Tata told him that private capital was simply not available, either in India or abroad, for investment in the plant...