Kshama V. Kaushik and Kaushik Dutta
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780198072614
- eISBN:
- 9780199081592
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198072614.003.0005
- Subject:
- Economics and Finance, Economic History
This chapter investigates how global business has influenced the operation of Indian businesses. It discusses the operation of national companies in British India and describes the receptive phase of ...
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This chapter investigates how global business has influenced the operation of Indian businesses. It discusses the operation of national companies in British India and describes the receptive phase of foreign investment from 1948–67, the restrictive phase from 1968–79, and the liberalization phase from the 1990s onwards. This chapter highlights the trend for Indian companies to acquire foreign companies rather than merely entering into a technical collaboration, and suggests that increased overseas acquisitions can be considered as a response mechanism of Indian firms to forces unleashed by trade liberalization and lifting of most restrictions in the Indian economy. It also provides case studies of ITC Limited, ICI India Limited, HCL Group, Motherson Sumi Systems Limited, and Ranbaxy Laboratories Limited.Less
This chapter investigates how global business has influenced the operation of Indian businesses. It discusses the operation of national companies in British India and describes the receptive phase of foreign investment from 1948–67, the restrictive phase from 1968–79, and the liberalization phase from the 1990s onwards. This chapter highlights the trend for Indian companies to acquire foreign companies rather than merely entering into a technical collaboration, and suggests that increased overseas acquisitions can be considered as a response mechanism of Indian firms to forces unleashed by trade liberalization and lifting of most restrictions in the Indian economy. It also provides case studies of ITC Limited, ICI India Limited, HCL Group, Motherson Sumi Systems Limited, and Ranbaxy Laboratories Limited.
Kshama V. Kaushik and Kaushik Dutta
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780198072614
- eISBN:
- 9780199081592
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198072614.003.0008
- Subject:
- Economics and Finance, Economic History
This chapter discusses the modern story of Indian business and economy. After two hundred years of colonial rule and relative economic stagnation, India has started to regain its lost glory in world ...
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This chapter discusses the modern story of Indian business and economy. After two hundred years of colonial rule and relative economic stagnation, India has started to regain its lost glory in world trade. According to Goldman Sachs Economic Research, India's high growth rate since 2003 represents a structural increase rather than simply a cyclical upturn and it projects India's potential or sustainable growth rate at about eight per cent until 2020. This chapter looks at a few sectors that are or can become powerful growth drivers to sustain the economy while providing employment to tens of thousands as they migrate towards a better lifestyle. These include information technology (IT), IT-enabled services, wellness and fitness, sports, pharmaceutical industry, entertainment and media, and automobile and component sectors.Less
This chapter discusses the modern story of Indian business and economy. After two hundred years of colonial rule and relative economic stagnation, India has started to regain its lost glory in world trade. According to Goldman Sachs Economic Research, India's high growth rate since 2003 represents a structural increase rather than simply a cyclical upturn and it projects India's potential or sustainable growth rate at about eight per cent until 2020. This chapter looks at a few sectors that are or can become powerful growth drivers to sustain the economy while providing employment to tens of thousands as they migrate towards a better lifestyle. These include information technology (IT), IT-enabled services, wellness and fitness, sports, pharmaceutical industry, entertainment and media, and automobile and component sectors.
Ashish Arora and Alfonso Gambardella (eds)
- Published in print:
- 2005
- Published Online:
- September 2007
- ISBN:
- 9780199275601
- eISBN:
- 9780191705823
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199275601.001.0001
- Subject:
- Business and Management, International Business
In 1980, the Indian software industry was practically non-existent. By the 1990s, the industry was one of the largest employers in manufacturing. Similar patterns of growth can be found in other ...
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In 1980, the Indian software industry was practically non-existent. By the 1990s, the industry was one of the largest employers in manufacturing. Similar patterns of growth can be found in other emerging economies. Given that the software industry is commonly viewed as a high-tech industry, how is it that such spectacular growth has occurred in countries where high-tech industries would not seem likely to develop? This book examines the reasons behind this phenomenon, and asks whether it suggests a new model of economic development. The contributors explore the implications of the rise of these newcomers to the software market for the global industry, and whether there are things to be learned about the role of human capital in economic growth, firm formation and capabilities, business and managerial models, and industry structure.Less
In 1980, the Indian software industry was practically non-existent. By the 1990s, the industry was one of the largest employers in manufacturing. Similar patterns of growth can be found in other emerging economies. Given that the software industry is commonly viewed as a high-tech industry, how is it that such spectacular growth has occurred in countries where high-tech industries would not seem likely to develop? This book examines the reasons behind this phenomenon, and asks whether it suggests a new model of economic development. The contributors explore the implications of the rise of these newcomers to the software market for the global industry, and whether there are things to be learned about the role of human capital in economic growth, firm formation and capabilities, business and managerial models, and industry structure.
T.N. Srinivasan (ed.)
- Published in print:
- 2011
- Published Online:
- September 2012
- ISBN:
- 9780198076384
- eISBN:
- 9780199080854
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198076384.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This book examines the origins, rationale, and outcomes of India's economic reforms in the context of changes in the economy, polity, and society. Looking at India's development experience across ...
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This book examines the origins, rationale, and outcomes of India's economic reforms in the context of changes in the economy, polity, and society. Looking at India's development experience across time, the book provides a comprehensive review of policies and performance of the economy since independence; a comparative analysis of the Indian experience with that of China as well as low-income countries; and an understanding of the recent global financial crisis vis-à-vis its implications for growth, sustainability, and the necessity of further reforms. Emphasizing the intrinsic goal of India's development — eradication of mass poverty — this book highlights future challenges and suggests appropriate policies.Less
This book examines the origins, rationale, and outcomes of India's economic reforms in the context of changes in the economy, polity, and society. Looking at India's development experience across time, the book provides a comprehensive review of policies and performance of the economy since independence; a comparative analysis of the Indian experience with that of China as well as low-income countries; and an understanding of the recent global financial crisis vis-à-vis its implications for growth, sustainability, and the necessity of further reforms. Emphasizing the intrinsic goal of India's development — eradication of mass poverty — this book highlights future challenges and suggests appropriate policies.
ROGER JEFFERY and ANTHONY HEATH
- Published in print:
- 2010
- Published Online:
- January 2012
- ISBN:
- 9780197264515
- eISBN:
- 9780191734403
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197264515.003.0001
- Subject:
- Sociology, Politics, Social Movements and Social Change
This chapter introduces the economic, social, and political aspects of Indian modernities. It considers the question of uneven modernisation and studies the sphere of politics. The Indian economy and ...
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This chapter introduces the economic, social, and political aspects of Indian modernities. It considers the question of uneven modernisation and studies the sphere of politics. The Indian economy and reform is discussed in detail as well.Less
This chapter introduces the economic, social, and political aspects of Indian modernities. It considers the question of uneven modernisation and studies the sphere of politics. The Indian economy and reform is discussed in detail as well.
Rabindra Ray
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780198077381
- eISBN:
- 9780199081011
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198077381.003.0006
- Subject:
- Sociology, Race and Ethnicity
The central concept of the Naxalite metaphysic was the characterization of the Indian economy as ‘semi-feudal, semi-colonial’. The characterization is not so much the description of a state of ...
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The central concept of the Naxalite metaphysic was the characterization of the Indian economy as ‘semi-feudal, semi-colonial’. The characterization is not so much the description of a state of affairs as an injunction to the action of a particular kind. The characterization also does not refer so much to facts of the economy in a ‘materialist’ sense, but to perceived experiences of personality which are reified into an economic terminology. Semi-feudalism accrues from a schema which sees the Indian economy as progressing from a state of feudalism to a state of capitalism, in which semi-feudalism is an intermediate state. This chapter also considers the agrarian conditions in India and the question of the mode of production.Less
The central concept of the Naxalite metaphysic was the characterization of the Indian economy as ‘semi-feudal, semi-colonial’. The characterization is not so much the description of a state of affairs as an injunction to the action of a particular kind. The characterization also does not refer so much to facts of the economy in a ‘materialist’ sense, but to perceived experiences of personality which are reified into an economic terminology. Semi-feudalism accrues from a schema which sees the Indian economy as progressing from a state of feudalism to a state of capitalism, in which semi-feudalism is an intermediate state. This chapter also considers the agrarian conditions in India and the question of the mode of production.
Anthony F. Heath and Roger Jeffery (eds)
- Published in print:
- 2010
- Published Online:
- January 2012
- ISBN:
- 9780197264515
- eISBN:
- 9780191734403
- Item type:
- book
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197264515.001.0001
- Subject:
- Sociology, Politics, Social Movements and Social Change
India's society, economy, and polity have been transformed at a gathering pace since the early 1990s, and India's growing role on the world stage makes it imperative to understand the roots and ...
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India's society, economy, and polity have been transformed at a gathering pace since the early 1990s, and India's growing role on the world stage makes it imperative to understand the roots and consequences of these changes. The eleven chapters in this interdisciplinary volume review the growing body of data that help to make sense of these changes and to understand their likely significance. The volume provides systematic, macro-level studies of economic, demographic, social, and political change in India but also micro-level analyses of the detailed mechanisms ‘on the ground’ of how Indian society is being re-shaped. This combination of micro- and macro-level analyses thus gives a picture not only of national trends but also of the underlying processes of change. Each of the chapters showcases the fruits of previously unpublished scholarship across the social sciences.Less
India's society, economy, and polity have been transformed at a gathering pace since the early 1990s, and India's growing role on the world stage makes it imperative to understand the roots and consequences of these changes. The eleven chapters in this interdisciplinary volume review the growing body of data that help to make sense of these changes and to understand their likely significance. The volume provides systematic, macro-level studies of economic, demographic, social, and political change in India but also micro-level analyses of the detailed mechanisms ‘on the ground’ of how Indian society is being re-shaped. This combination of micro- and macro-level analyses thus gives a picture not only of national trends but also of the underlying processes of change. Each of the chapters showcases the fruits of previously unpublished scholarship across the social sciences.
Kshama V. Kaushik and Kaushik Dutta
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780198072614
- eISBN:
- 9780199081592
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198072614.003.0004
- Subject:
- Economics and Finance, Economic History
This chapter examines the role of state-owned enterprises or public sector undertakings (PSUs) in Indian economy. PSUs are government-controlled companies or statutory corporations set up by an Act ...
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This chapter examines the role of state-owned enterprises or public sector undertakings (PSUs) in Indian economy. PSUs are government-controlled companies or statutory corporations set up by an Act of Parliament, or departmental enterprises of the government like in the defence sector, railways, or telecommunications. This chapter identifies the management problems of PSUs and describes how pressure to stay relevant is forcing several large PSUs to shake up their style of management and emulate the dynamics of the private sector. It contends that PSUs have been instrumental in creating basic economic infrastructure in the country and developing a deep bank of technical skills; clearly, though, they can deliver better value only by sharpening their commercial orientation.Less
This chapter examines the role of state-owned enterprises or public sector undertakings (PSUs) in Indian economy. PSUs are government-controlled companies or statutory corporations set up by an Act of Parliament, or departmental enterprises of the government like in the defence sector, railways, or telecommunications. This chapter identifies the management problems of PSUs and describes how pressure to stay relevant is forcing several large PSUs to shake up their style of management and emulate the dynamics of the private sector. It contends that PSUs have been instrumental in creating basic economic infrastructure in the country and developing a deep bank of technical skills; clearly, though, they can deliver better value only by sharpening their commercial orientation.
Rajiv Kumar and Pankaj Vashisht
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780199660957
- eISBN:
- 9780191748981
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199660957.003.0008
- Subject:
- Economics and Finance, Financial Economics, South and East Asia
India's financial sector is not deeply integrated with the global financial system, which spared it the first round adverse effects of the global financial and economic crisis and left Indian banks ...
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India's financial sector is not deeply integrated with the global financial system, which spared it the first round adverse effects of the global financial and economic crisis and left Indian banks mostly unaffected. However, as the financial crisis morphed in to a full-blown global economic downturn, India could not escape the second round effects. The chapter discusses how the global crisis has affected India through three distinct channels: financial markets, trade flows, and exchange rates and identifies policy measures to restore the Indian gross domestic product growth back to its potential rate of 8–9% per year.Less
India's financial sector is not deeply integrated with the global financial system, which spared it the first round adverse effects of the global financial and economic crisis and left Indian banks mostly unaffected. However, as the financial crisis morphed in to a full-blown global economic downturn, India could not escape the second round effects. The chapter discusses how the global crisis has affected India through three distinct channels: financial markets, trade flows, and exchange rates and identifies policy measures to restore the Indian gross domestic product growth back to its potential rate of 8–9% per year.
Jagdish Bhagwati
- Published in print:
- 1993
- Published Online:
- October 2011
- ISBN:
- 9780198288473
- eISBN:
- 9780191684609
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198288473.003.0004
- Subject:
- Economics and Finance, South and East Asia
This chapter discusses the reforms that had to be undertaken in the Indian economy, mainly in the country's microeconomic framework, requiring ‘structural’ reforms that would free the economy and ...
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This chapter discusses the reforms that had to be undertaken in the Indian economy, mainly in the country's microeconomic framework, requiring ‘structural’ reforms that would free the economy and improve its functioning. However, the reforms were precipitated by the macroeconomic crisis. The chapter explains that the failure to produce adequate returns from public enterprises both contributed to low income and growth and helped to create the fiscal crisis by undermining public savings. It notes that without an option to further foreign funds to moderate the costs of adjusting out of the serious macroeconomic crisis, the political costs of recovering stability were simply too high. However, these funds could not be procured without finally undertaking the reforms that had proven elusive so far. The chapter evaluates the reforms made by Rajiv Gandhi and their impact on India's economy.Less
This chapter discusses the reforms that had to be undertaken in the Indian economy, mainly in the country's microeconomic framework, requiring ‘structural’ reforms that would free the economy and improve its functioning. However, the reforms were precipitated by the macroeconomic crisis. The chapter explains that the failure to produce adequate returns from public enterprises both contributed to low income and growth and helped to create the fiscal crisis by undermining public savings. It notes that without an option to further foreign funds to moderate the costs of adjusting out of the serious macroeconomic crisis, the political costs of recovering stability were simply too high. However, these funds could not be procured without finally undertaking the reforms that had proven elusive so far. The chapter evaluates the reforms made by Rajiv Gandhi and their impact on India's economy.
Ashwani Deshpande
- Published in print:
- 2011
- Published Online:
- September 2012
- ISBN:
- 9780198072034
- eISBN:
- 9780199081028
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198072034.003.0003
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter outlines contours of caste disparity in modern contemporary India, evidence that seriously questions the belief that caste is irrelevant in globalizing India. It presents evidence spread ...
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This chapter outlines contours of caste disparity in modern contemporary India, evidence that seriously questions the belief that caste is irrelevant in globalizing India. It presents evidence spread over the last 20 years, using the largest two data sets after the national census, on various indicators of material well-being. Some of these indicators have been aggregated by the author into a Caste Development Index (CDI). This index, as well as other indicators, clearly shows substantial regional variation, but no reversal of traditional caste hierarchies. The relationship between the regional distribution of the CDI and the rate of growth of state domestic product is also examined, to address whether disparities are lower in richer or faster-growing states.Less
This chapter outlines contours of caste disparity in modern contemporary India, evidence that seriously questions the belief that caste is irrelevant in globalizing India. It presents evidence spread over the last 20 years, using the largest two data sets after the national census, on various indicators of material well-being. Some of these indicators have been aggregated by the author into a Caste Development Index (CDI). This index, as well as other indicators, clearly shows substantial regional variation, but no reversal of traditional caste hierarchies. The relationship between the regional distribution of the CDI and the rate of growth of state domestic product is also examined, to address whether disparities are lower in richer or faster-growing states.
Madhav Gadgil and Ramachandra Guha
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780198077442
- eISBN:
- 9780199082155
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198077442.003.0006
- Subject:
- Sociology, Science, Technology and Environment
The national movement had thrown up two alternative scenarios for the reconstruction of Indian economy and society. One vision was associated with Mahatma Gandhi. Whatever the anomalies in his ...
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The national movement had thrown up two alternative scenarios for the reconstruction of Indian economy and society. One vision was associated with Mahatma Gandhi. Whatever the anomalies in his thought and practice, it is clear that in the path of economic development eventually charted by the Indian nation, the Mahatma’s ideals were made redundant with a quite alarming rapidity. As a nationalist leader who had spent many years in British prisons, Jawaharlal Nehru’s attitude toward the West was an ambivalent one. The four stages in the industrial orientation of Indian forestry are elaborated. The continuity between colonial and post-colonial forestry regimes is most clearly manifest in the system of ownership. There is a whole complex of processes that result to resource exhaustion in the case of Indian forestry. The forestry practices introduced by the British and continued thereafter are neither scientific nor conservation-oriented.Less
The national movement had thrown up two alternative scenarios for the reconstruction of Indian economy and society. One vision was associated with Mahatma Gandhi. Whatever the anomalies in his thought and practice, it is clear that in the path of economic development eventually charted by the Indian nation, the Mahatma’s ideals were made redundant with a quite alarming rapidity. As a nationalist leader who had spent many years in British prisons, Jawaharlal Nehru’s attitude toward the West was an ambivalent one. The four stages in the industrial orientation of Indian forestry are elaborated. The continuity between colonial and post-colonial forestry regimes is most clearly manifest in the system of ownership. There is a whole complex of processes that result to resource exhaustion in the case of Indian forestry. The forestry practices introduced by the British and continued thereafter are neither scientific nor conservation-oriented.
Mariam Dossal
- Published in print:
- 1995
- Published Online:
- September 2018
- ISBN:
- 9780969588580
- eISBN:
- 9781786944856
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.5949/liverpool/9780969588580.003.0008
- Subject:
- History, Maritime History
This chapter addresses existing literature concerning the Indian Ocean, and places specific focus on the role of merchants in the maritime economy on India’s West Coast. The essay provides insight ...
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This chapter addresses existing literature concerning the Indian Ocean, and places specific focus on the role of merchants in the maritime economy on India’s West Coast. The essay provides insight into the ways workers contributed to the articulation of the region of India into the modern world system and makes a comment on globalisation and industrialisation in India since the sixteenth century.Less
This chapter addresses existing literature concerning the Indian Ocean, and places specific focus on the role of merchants in the maritime economy on India’s West Coast. The essay provides insight into the ways workers contributed to the articulation of the region of India into the modern world system and makes a comment on globalisation and industrialisation in India since the sixteenth century.
Ramin Jahanbegloo
- Published in print:
- 2008
- Published Online:
- October 2012
- ISBN:
- 9780195689440
- eISBN:
- 9780199080342
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195689440.003.0012
- Subject:
- Political Science, Indian Politics
The focus of this interview is the Indian economy and its challenges and uncertainties. Amit Bhaduri states that although India has performed better and has maintained a steady growth rate, it has ...
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The focus of this interview is the Indian economy and its challenges and uncertainties. Amit Bhaduri states that although India has performed better and has maintained a steady growth rate, it has never tried growth from below. The interview looks at the agrarian sector of the economy, Bhaduri's three-step analyses of the changes in the political economy of India, and the reforms that were initiated by Manmohan Singh. It ends by discussing the initiation of the second generation reforms that would enable the Indian manufacturing industry to capitalize on global opportunities and drive the growth of the Indian economy to the next level.Less
The focus of this interview is the Indian economy and its challenges and uncertainties. Amit Bhaduri states that although India has performed better and has maintained a steady growth rate, it has never tried growth from below. The interview looks at the agrarian sector of the economy, Bhaduri's three-step analyses of the changes in the political economy of India, and the reforms that were initiated by Manmohan Singh. It ends by discussing the initiation of the second generation reforms that would enable the Indian manufacturing industry to capitalize on global opportunities and drive the growth of the Indian economy to the next level.
Dia Da Costa
- Published in print:
- 2016
- Published Online:
- September 2017
- ISBN:
- 9780252040603
- eISBN:
- 9780252099045
- Item type:
- chapter
- Publisher:
- University of Illinois Press
- DOI:
- 10.5406/illinois/9780252040603.003.0001
- Subject:
- Society and Culture, Asian Studies
This chapter introduces transnational feminist and affect theory frameworks, two activist troupes, and key concepts of sentimental capitalism and hunger called theater to argue the significance of ...
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This chapter introduces transnational feminist and affect theory frameworks, two activist troupes, and key concepts of sentimental capitalism and hunger called theater to argue the significance of analyzing a global discursive regime of creative economy policy within the same analytical frame as activist performance. Highlighting recent articulations, affects, and contradictions of Indian creative economy policy, it presents shifting discursive and political histories. Rather than focusing on capital-rich cultural production, it makes a case for attending to unrecognized creativity within activist performance whilst analyzing the latter’s messy collaborations with hegemonic regimes of creativity. Outlines the book’s organization: Part 1 historically and spatially locates a global discursive regime in India, Ahmedabad, and Delhi; Parts 2 and 3 are ethnographies of the two troupes.Less
This chapter introduces transnational feminist and affect theory frameworks, two activist troupes, and key concepts of sentimental capitalism and hunger called theater to argue the significance of analyzing a global discursive regime of creative economy policy within the same analytical frame as activist performance. Highlighting recent articulations, affects, and contradictions of Indian creative economy policy, it presents shifting discursive and political histories. Rather than focusing on capital-rich cultural production, it makes a case for attending to unrecognized creativity within activist performance whilst analyzing the latter’s messy collaborations with hegemonic regimes of creativity. Outlines the book’s organization: Part 1 historically and spatially locates a global discursive regime in India, Ahmedabad, and Delhi; Parts 2 and 3 are ethnographies of the two troupes.
Anne O. Krueger and Sajjid Chinoy (eds)
- Published in print:
- 2002
- Published Online:
- February 2013
- ISBN:
- 9780226454528
- eISBN:
- 9780226454542
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226454542.003.0002
- Subject:
- Economics and Finance, International
This chapter reports a brief overview of Indian economic policies and development over the period since independence. Indian export growth was dull when the world economy was expanding rapidly in the ...
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This chapter reports a brief overview of Indian economic policies and development over the period since independence. Indian export growth was dull when the world economy was expanding rapidly in the 1950s and 1960s. Overall economic growth was sharply decreased during the balance-of-payments crisis of 1966–67. There was a vital enhancement in access to schooling. The stabilization aspects of policy in 1991 bore short-term success. As of 2000, it was clear that the Indian economy had changed markedly over the post-crisis years. Quite clearly, the reforms to date have ameliorated the functioning of the economy and permitted a higher rate of economic growth than was regarded as attainable on a sustainable basis in earlier decades. All of the reforms presented will enhance Indian economic performance and growth.Less
This chapter reports a brief overview of Indian economic policies and development over the period since independence. Indian export growth was dull when the world economy was expanding rapidly in the 1950s and 1960s. Overall economic growth was sharply decreased during the balance-of-payments crisis of 1966–67. There was a vital enhancement in access to schooling. The stabilization aspects of policy in 1991 bore short-term success. As of 2000, it was clear that the Indian economy had changed markedly over the post-crisis years. Quite clearly, the reforms to date have ameliorated the functioning of the economy and permitted a higher rate of economic growth than was regarded as attainable on a sustainable basis in earlier decades. All of the reforms presented will enhance Indian economic performance and growth.
Nikhil Celly, Abhishek Kathuria, and Venkat Subramanian
- Published in print:
- 2016
- Published Online:
- June 2016
- ISBN:
- 9780199466467
- eISBN:
- 9780199086832
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199466467.003.0003
- Subject:
- Business and Management, International Business
India is currently the world’s second most populous nation and the third largest economy on a purchasing power parity basis. These are impressive statistics for a country that attained independence ...
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India is currently the world’s second most populous nation and the third largest economy on a purchasing power parity basis. These are impressive statistics for a country that attained independence in 1947, and only began liberalizing and opening up its economy in 1991. However, Indian firms are not yet represented on a global stage, and are relatively few in number with respect to their US, European, Japanese and most recently Chinese counterparts. In this chapter we provide a historical overview of the Indian MNC from independence to present times. We draw on institutional, industry, and firm factors to explain their evolution and discuss the way forward for Indian MNCs including challenges and opportunities. We also provide some suggestions for governments and industry to further facilitate the growth of the Indian MNC.Less
India is currently the world’s second most populous nation and the third largest economy on a purchasing power parity basis. These are impressive statistics for a country that attained independence in 1947, and only began liberalizing and opening up its economy in 1991. However, Indian firms are not yet represented on a global stage, and are relatively few in number with respect to their US, European, Japanese and most recently Chinese counterparts. In this chapter we provide a historical overview of the Indian MNC from independence to present times. We draw on institutional, industry, and firm factors to explain their evolution and discuss the way forward for Indian MNCs including challenges and opportunities. We also provide some suggestions for governments and industry to further facilitate the growth of the Indian MNC.
Murali Murti and N. V. Krishna
- Published in print:
- 2012
- Published Online:
- June 2013
- ISBN:
- 9780804770095
- eISBN:
- 9780804778640
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804770095.003.0018
- Subject:
- Business and Management, Organization Studies
This chapter examines the resilience to the global financial crisis based on experiences of the Indian economy. By assessing commonly used measures such as gross domestic product (GDP) growth rate; ...
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This chapter examines the resilience to the global financial crisis based on experiences of the Indian economy. By assessing commonly used measures such as gross domestic product (GDP) growth rate; unemployment rate; fall in property values; value destruction of financial assets; current account deficits; and the failure of institutions, corporations, and banks, the discussion considers the relatively high resilience of the Indian economy as compared to those of the United States and Europe. Some lessons on economic resilience include high savings rate and lower credit exposure, a strong regulatory framework and an effective central bank responsible for monetary policy, policy emphasis on stability rather than growth, and lowering of economic dependence on exports.Less
This chapter examines the resilience to the global financial crisis based on experiences of the Indian economy. By assessing commonly used measures such as gross domestic product (GDP) growth rate; unemployment rate; fall in property values; value destruction of financial assets; current account deficits; and the failure of institutions, corporations, and banks, the discussion considers the relatively high resilience of the Indian economy as compared to those of the United States and Europe. Some lessons on economic resilience include high savings rate and lower credit exposure, a strong regulatory framework and an effective central bank responsible for monetary policy, policy emphasis on stability rather than growth, and lowering of economic dependence on exports.
T. N. Srinivasan (ed.)
- Published in print:
- 2000
- Published Online:
- October 2012
- ISBN:
- 9780195652826
- eISBN:
- 9780199080649
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195652826.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This volume is based on the lectures on the state of economic reforms in India delivered by the author at the Institute for Social and Economic Change (ISEC) in Bangalore in July 1998. Each of the ...
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This volume is based on the lectures on the state of economic reforms in India delivered by the author at the Institute for Social and Economic Change (ISEC) in Bangalore in July 1998. Each of the lectures addresses reforms in different sectors of the economy including transportation, education, health care, infrastructure, agriculture, poverty alleviation, industrial sector, finance, and international trade. The lectures describe the reforms in a historical context to provide a better understanding of their pre-independence origins. The book attempts to explain the reasons behind the failure of various reforms including those launched during the pre-independence period and those initiated by Prime Minister Narasimha Rao and Finance Minister Manmohan Singh in 1991. It also provides recommended reforms for different industries.Less
This volume is based on the lectures on the state of economic reforms in India delivered by the author at the Institute for Social and Economic Change (ISEC) in Bangalore in July 1998. Each of the lectures addresses reforms in different sectors of the economy including transportation, education, health care, infrastructure, agriculture, poverty alleviation, industrial sector, finance, and international trade. The lectures describe the reforms in a historical context to provide a better understanding of their pre-independence origins. The book attempts to explain the reasons behind the failure of various reforms including those launched during the pre-independence period and those initiated by Prime Minister Narasimha Rao and Finance Minister Manmohan Singh in 1991. It also provides recommended reforms for different industries.
Himanshu, Peter Lanjouw, and Nicholas Stern
- Published in print:
- 2018
- Published Online:
- September 2018
- ISBN:
- 9780198806509
- eISBN:
- 9780191844102
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198806509.003.0004
- Subject:
- Economics and Finance, Development, Growth, and Environmental, Public and Welfare
The seven decades of the Palanpur study cover India’s life as an independent nation. The chapter highlights those changes in India’s economy and policy that relate, and are relevant, to our ...
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The seven decades of the Palanpur study cover India’s life as an independent nation. The chapter highlights those changes in India’s economy and policy that relate, and are relevant, to our understanding of Palanpur’s development. Amongst the key events in India’s history that are of particular pertinence in Palanpur are the land reforms of the 1950s associated with zamindari abolition, the green revolution, diversification of employment into non-farm activities, with increasing incomes in rural areas, the slow expansion of education, rapid population growth, changing social, political, and demographic structures, transformation in communications, liberalization, and the opening of the economy. These changes in the overall economic environment have constituted crucial context for, and forces behind, the changes observed in Palanpur. The seven decades of data and close know ledge of Palanpur also help to illuminate the overall story of India’s development and locate it in a specific and human context.Less
The seven decades of the Palanpur study cover India’s life as an independent nation. The chapter highlights those changes in India’s economy and policy that relate, and are relevant, to our understanding of Palanpur’s development. Amongst the key events in India’s history that are of particular pertinence in Palanpur are the land reforms of the 1950s associated with zamindari abolition, the green revolution, diversification of employment into non-farm activities, with increasing incomes in rural areas, the slow expansion of education, rapid population growth, changing social, political, and demographic structures, transformation in communications, liberalization, and the opening of the economy. These changes in the overall economic environment have constituted crucial context for, and forces behind, the changes observed in Palanpur. The seven decades of data and close know ledge of Palanpur also help to illuminate the overall story of India’s development and locate it in a specific and human context.
