 IndiaVeena Jha Chapter 7 in Coping with Trade Reforms, 2006, pp 124-139 from Palgrave Macmillan Abstract: Abstract With a population of over 1 billion people, India is the second most populous country in the world. However, prior to the reforms of 1991, the economy had only grown at some 3.6 per cent a year over the previous 30 years. The 1991 economic reforms were intended to put the Indian economy on a path to sustainable growth and to address long-standing fiscal and current-account imbalances. The reforms encompassed liberalization in areas such as the exchange rate regime, foreign investment, industrial policy, external borrowing, import licensing, import tariffs and export subsidies. The sequencing of the reform process, whereby fiscal and monetary reforms preceded trade liberalization has been said to explain India’s ‘soft landing’ (Stiglitz, 2003). The unilateral liberalization also coincided with the Uruguay Round of Trade Negotiations (1986–1994), which, inter alia, resulted in binding non-optional agreements on a comprehensive array of issues such as goods (including agricultural goods), services, trade-related investment measures (TRIMs) and trade-related aspects of intellectual property rights (TRIPS). Keywords: Exchange Rate Regime; Framework Agreement; Trade Reform; Indian Manufacturing; Global Trade Analysis Project (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37780-6_8 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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