Reintegrating India with the World Economy

Reintegrating India with the World Economy

Product ID: 12118

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Author: T N Srinivasan
Suresh D Tendulkar/
Publisher: Oxford University Press
Year: 2003
Language: English
Pages: 167
ISBN/UPC (if available): 0195652983


After nearly five decades of insulation from world markets, state controls, and slow growth, India embarked in 1991 on a process of liberalization. In this study, the authors analyze the economics and politics of India's recent and progressive integration with the global economy. The process has to be nurtured and accelerated to eradicate poverty and put the Indian economy on a path of rapid and sustained growth.

The book documents the background and explores the consequences of India's shift from an inward-oriented, state-led development strategy to a policy of active reintegration with the world economy. It traces the evolution of India's participation in world trade for commodities, services, capital, and technology, and evaluates the achievements of economic policy reforms since July 1991. India's inward-looking development strategy did not preclude its participation as a leading representative in voicing developing concerns at international forums.

The volume focuses on this participation, in particular on India's role in the GATT and the WTO, its reform agenda, addressing its domestic constraints in the broad sense as well as outlining the tasks ahead. The final chapter offers policy recommendations, including proposals that India could make at the ongoing round of multilateral trade negotiations.

This book will interest students, researchers, policy-makers, the academia in general, and economists in particular.



Introduction: Macroeconomic Crisis and Radical Reforms

India in the World Trading System: A Quantitative Assessment

India in the GATT and the WTO

Domestic Constraints on International Participation

Conclusions and the Tasks Ahead

List of 26 tables
Figures 9