1945

Overview

India’s growth miracle has attracted worldwide attention, particularly because this growth has been pursuant to the wide ranging economic reforms introduced in the early 1990s. Many other developing countries intensified Liberalization during this period but were unable to experience a similar spurt in their economic growth. One distinctive feature of Indian Liberalization experience is the gradual and calibrated manner in which reforms were introduced, especially with respect to external Liberalization, be it in the financial, agricultural or manufacturing sector. On the risk of being categorised as “reluctant globaliser”, India embarked on the path of slow and steady Liberalization and still maintains high tariffs in many agricultural products and has given limited access to foreign investors in many sectors. To what extent has this approach stimulated economic growth in India? This book is a modest attempt to capture the role played by trade and foreign direct investment (FDI) polices in growth and development of different sectors in India.

Related Subject(s): Economic and Social Development
Countries: India
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