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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 ...
This volume contains a set of papers on Indian industrialization in the context of market-enhancing and trade-liberalising reforms that have been taking place. It begins with tracing shifts in Indian industrial policy since independence. The papers, presented in five sections, throw light on the various facets of the remarkable transformation of the Indian economy with reference to industrialization, an area of major interest to Professor K.L. Krishan, to whom ...
Understanding Reforms traces the remarkable transformation of India from a slow growing economy to one of the fastest growing in the world. Reviewing the background, context, timing, and persistence of economic reforms since July 1991 it describes in fascination detail the results achieved in the last fifteen years despite formidable hurdles. Discussing the events that led to a crisis situation in which reforms were initiated, the book describes how they were ...