Reintegrating India with the World Economy

Author: T N SrinivasanSuresh D Tendulkar/Publisher: Oxford University PressYear: 2003Language: EnglishPages: 167ISBN/UPC (if available): 0195652983 DescriptionAfter 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