Foreign Trade Of India 1947 2007 Trends Policies And Prospects

Over the last 60 years, India's foreign trade has undergone a complete change in terms of composition and direction. The exports cover a wide range of traditional and non-traditional items while imports consist mainly of capital goods, petroleum products, raw materials, and chemicals to meet the ever-increasing needs of a developing and diversifying economy. In recognition of the growing importance of the foreign trade in driving the economy, this book describes and examines changes in the pattern of India's foreign trade since Independence in 1947, with focus on post-1991 developments. The book addresses issues related to trade policy, export strategy, tariff policy, current account dynamics, exchange rate management, foreign exchange reserves, capital account liberalization, external debt and aid, foreign investments (both direct and portfolio), and the WTO.

In recognition of the growing importance of foreign trade in the Indian economy, this book provides a comprehensive description and analysis of post-Independence developments in India's foreign trade and allied sectors with focus on post-1991 period. The book covers the following specific topics: Changing Pattern of International Trade; Pre- and Post-Independence Developments in India's Foreign Trade; Compositional and Directional Shifts in Exports from India; Compositional and Policy Shifts in Imports into India; Foreign Trade Policy in Recent Years; Rationalisation, Simplification and Moderation of Customs Tariff Regime; Current Account Convertibility and Flows; Capital Account Convertibility and Flows; Exchange Rate Determination and Management; Foreign Exchange Reserves; External Debt and Aid; Foreign Direct Investment (FDI) and Foreign Portfolio Investment. The book provides special coverage to the following topics: (a) Globalisation and International Trade, (b) Global Economic Crisis and International Trade, (c) India's Regional Trade Agreements (RTAs), (d) World Trade Organisation (WTO) and India's Foreign Trade and (e) Global Economic Crisis and the Indian Economy.

India today looms large globally, where it hardly loomed at all twenty years ago. It is likely to be a key global actor throughout the twenty-first century and could well emerge soon as one of the top five global powers. Does the Elephant Dance? seeks to survey the main features of Indian foreign policy. It identifies elements of Indian history relevant to the topic; examines the role therein of domestic politics and internal and external security challenges, and of domestic and international economic factors; and in successive chapters delves into the specifics of India's policy within its South Asian neighbourhood, and with respect to China, the USA, West Asia (the Middle East), East Asia, Europe and Russia, and multilateral diplomacy. It also touches on Indian ties to Africa and Latin America and the Caribbean. India's "soft power", the role of migration in its policy, and other cross-cutting issues are analyzed, as is the role and approach of several categories of foreign policy actors in India. Substantive conclusions close out the volume, and touch, inter alia, on the absence of an organizing framework for Indian foreign policy.

ABOUT THE BOOK This book provides a comprehensive description and analysis of developments in various sectors of the Indian economy since Independence. It particularly focuses on the following sectors: agriculture, industry, fiscal policy, money and prices, banking and finance, and foreign trade. Year-wise (1947-48 to 2008-09) review of developments in these sectors of the economy is another key feature of the book. It also provides time-series data on Indian economy. The work is organised into 8 parts. Part I is introductory in nature, tracing the main developments in the Indian economy since Independence in 1947. Part II traces the developments in Indian agriculture during the post-Independence period and examines current issues pertaining to this vital sector of the Indian economy. Part III is devoted to Indian industry. It records changes in industrial policy during the post-Independence period, explains the key reform measures undertaken for making Indian industry internationally competitive and examines current issues pertaining to this sector. Part IV covers fiscal policy. It provides an account of fiscal developments in India since Independence and explains the fiscal policy reforms during the post-liberalisation period with particular emphasis on tax reforms. Part V traces the evolution of India?s monetary policy and price policy. Part VI deals with banking and finance. It explains developments in India?s financial system with particular emphasis on post-1991 reforms. Part VII describes and examines changes in the pattern of foreign trade since Independence, with focus on developments since 1991. Part VIII contains time-series data on the Indian economy. The book is designed to interest a cross-section of readers, viz. teachers and students of economics, commerce, law, public administration, business management, chartered accountancy and company secretaryship. It will also serve the needs of legislators, business executives, entrepreneurs and investors, and others interested in the developments in the Indian economy.

During the past thirty years, international trade agreements have focused increasingly on areas of provincial jurisdiction. In The Provinces and Canadian Foreign Trade Policy, Kukucha argues that Canadian provinces have maintained a level of autonomy in response to these developments, sometimes even influencing Canada's global trade relations and the evolution of international norms and standards. The first comprehensive review of provincial foreign trade policy in Canada, the book highlights the convergence of debates related to federalism, Canadian foreign policy, and the global political economy as they are played out in the negotiation and implementation of international trade agreements. It will be of interest to students and practitioners of political science, public policy, and economics.

ABOUT THE BOOK Foreign investment plays an important role in the long-term economic development of a country by augmenting availability of capital, enhancing competitiveness of the domestic economy through transfer of technology, strengthening infrastructure, raising productivity, generating new employment opportunities and boosting exports. Foreign investment, therefore, is a strategic instrument of development policy. In the wake of economic liberalisation policy initiated in 1991, the Government of India has taken several measures to encourage foreign investment, both direct and portfolio, in almost all sectors of the economy. However, the emphasis has been on foreign direct investment (FDI) inflows in the development of infrastructure, technological upgradation of industry and setting up Special Economic Zones (SEZs). India has consistently been classified as one of the most attractive investment destinations by reputed international rating organisations. With a vast reservoir of skilled and cost-effective manpower, India offers immense opportunities for business process outsourcing (BPO), knowledge process outsourcing (KPO) and engineering process outsourcing (EPO). In spite of the fact that India is strategically located with access to a vast domestic and South Asian market, its share in world?s total flow of direct/portfolio investment to developing countries is dismally low. China, with GDP size 2.2 times of India, is able to attract 20 times the FDI inflow to India. Similarly, Singapore, Indonesia, Philippines, and Thailand also attract greater amounts of foreign investment than India. The current world scenario calls for further liberalisation of norms for foreign investment in India. The present book deals with almost all aspects of foreign investment in India. It particularly focuses on current policies and procedures for foreign direct investment as well as foreign portfolio investment. Foreign investment policies of other countries have also been highlighted to make suitable comparisons with India?s policies in order to underscore the measures that are needed to attract higher levels of foreign capital and technology.