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| 1960s |
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| New form of neocolonialism, based on economic relationships between the industrial world and the developing world, began to emerge. Postcolonial areas continued to produce cash crops and minerals for export to a world market in order to earn the capital they needed to invest in industrialization at home. But because the prices of primary products fluctuated dramatically, however, Third World countries suffered severe disadvantages. This neocolonialism has been extended through development policies, especially the Green Revolution, wherein ex-colonies become dependent on Western benefactors for supply of fertilizers and new kinds of seeds even when they achieve self-sufficiency in food production, as India managed to do in this decade. | 1 |
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| 1960–64 |
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| Uneven development marked industrial growth: steel production, stagnating at 1 million tons per year in the early postwar period, increased to 3 million tons in 1960 and 6 million tons in 1964. By contrast, cotton textile production in the same period remained the same (5 billion yards of cloth). Agricultural production increased, but only because the amount of arable land was extended. The ability of the internal market to consume manufactured goods, however, stagnated; two-thirds of the average household income continued to be spent on food. (Consequently, when food prices rose dramatically in 1965, consumption of other durable goods dropped sharply.) | 2 |
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| 1961, Feb. 14 |
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| The government maintained that China was in “unlawful occupation of about 12,000 square miles of Indian territory,” and (May 2) charged China with intrusion on the Indian border and fomenting tensions among Asian nations. | 3 |
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| Dec. 18–19 |
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| Indian troops invaded and conquered the Portuguese territories of Goa, Damao, and Diu. | 4 |
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