This book is a comprehensive study of India's imports sector during the period 1986-87 to 2005-06. The book analyses the growth pattern and structure of India's imports. It studies the determinants of aggregate imports as well as of major catergories of imports. The demand for imports is influenced by many factors, including size, growth pattern of population, relative prices, rate of capital formation, growth rate of GNP and growth of export earnings. This book estimates import demand functions for India's total imports as well as for some of its major categories and derives important policy recommendations related to import demand determinants. The relationship between import and growth can be investigated with the help of causality analysis has been extended to cover the impact of domestic production on major catergories of imports. In case of machinery imports, causality has been tested with gross domestic capital formation as well. The import policy of India has changed from time to time according to changing economic conditions, domestic requirements and international changes. The book analysis in detail the changing import policy regimes especially during especially during post 1985 period. An attempt has been made to analyse the impact of changing import policy on growth and structure of India's imports. The book gives in-depth analysis of various theoretical issues related to the role of imports in economic development. The book also reviews a large number of empirical studies relating to various aspects of the present study.
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