[Telegram to Mr Minoo Masani]

Summary

This one-page English telegram, sent by M. R. Masani from Ahmedabad on 21 June 1966, argues that the benefits expected from devaluation were substantially cancelled by accompanying trade-policy measures. It distinguishes between traditional and non-traditional exports: export duties allegedly neutralised the gains for traditional exports, while the abolition of import entitlements and other export-promotion incentives did so for non-traditional items.

The telegram concludes that the combined measures left little net benefit from devaluation. The recipient is identified as M. R. Masani at C.1, Pandara Road, New Delhi; the document does not state the broader policy context or identify the authority to whom the message was addressed.

Key points

• The telegram discusses the effects of devaluation on exports.
• It states that export duties neutralised much of the benefit for traditional exports.
• It states that the abolition of import entitlements affected the benefits available for non-traditional exports.
• It also cites the removal of other export-promotion incentives.
• Its stated conclusion is that the net result was little or no effective benefit from devaluation.