Consider the following terms and their meanings:
1. JAM number trinity : Jan Dhan, Aadhaar and Mobile number trinity
2. Jeans Model : Low skilled manufacturing model of East Asian Countries
Which among the above is / are correct?
From Economic Survey
Historically, there have been three modes of escape from under-development: geology, geography, and “jeans” (code for low-skilled manufacturing).
In recent years West Asia, Botswana and Chile, and further back in time Australia and Canada, exploited their natural resources endowed by geology to improve their standards of living.
Some of the island successes (Barbados, Mauritius, and
others in the Caribbean) have exploited their geography by developing tourism to achieve high rates of growth.
In the early stages of their success, East Asian countries (China, Thailand, Indonesia, Malaysia etc) relied on relatively low-skilled manufacturing, typically textiles and clothing, to motor economic growth. Later on they diversified into more sophisticated manufacturing but “jeans” offered the vehicle for prosperity early on. No country has escaped from underdevelopment using relatively skill-intensive activities as the launching pad for sustained growth as India seems to be attempting.
Put differently, India seems to have defied its “natural” comparative advantage, which probably lay in the “jeans” mode of escape because of its abundant unskilled and low-skilled labor. Instead, it found or created—thanks to historical policy choices and technological accidents—such advantage in relatively skilled activities such as information technologies and business process outsourcing (Kochhar et. al., 2007)
This question is a part of GKToday's Integrated IAS General Studies Module