Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/98322
Authors: 
Srinivasan, T.N.
Year of Publication: 
2001
Series/Report no.: 
Center Discussion Paper 830
Abstract: 
I evaluate India's transition from an inward-oriented development strategy to greater participation in the world economy. While tariff rates have decreased significantly over the past decade, India is still one of the more autarkic countries. Despite improvement over the past in export performance, India continues to lag behind its South- and East Asian neighbors. Second, official debt flows have been largely replaced by foreign direct investment (FDI) and portfolio investment in the 1990s. India's ability to attract FDI would be greatly enhanced by further reforms. I argue that India's participation in a future round of multilateral trade negotiations would benefit India. I outline the further reforms most needed: reform of labour and bankruptcy laws, real privatization, and fiscal consolidation. These involve taking on entrenched vested interests, including political parties and governments in states. Enacting them requires political courage and risk taking which in India, as in most societies, are rare.
Subjects: 
India
Antidumping
Developing Countries
Economic Reform
Export Performance
Foreign Direct Investment
Intellectual Property Rights
Multilateral Trade Negotiations
Quantitative Restrictions
Real Exchange Rate
Tariff and Non-tariff Barriers
World Trade Organization
JEL: 
F13
F14
F15
F21
F35
H54
K31
O34
O38
O53
P11
Document Type: 
Working Paper

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