Globalisation And Indian Manufacturing Sector

Presents an international perspective and cross-country comparison on manufacturing during the years 1970-2000. Develops a model concerning three sub-sectors: capital goods, consumer goods produced in factories, and in small-scale and cottage industries. Reflects on to the role of the State in overcoming rigidities.

Surinder Kumar Goyal, b. 1933, Indian industrial economist; papers presented at the National Conference on Industrial Development and Economic Policy Issues, held at New Delhi during 27-28 June 2008.

This book focuses on Indian manufacturing industries and analyses the impact of inward foreign direct investment on the domestic sector on the one hand, and exports and outward foreign direct investment by Indian companies on the other. Although the emphasis is mostly general, specific industries, such as the automotive industry or the wind energy sector are also explored. The differences between low and high technology industries are also addressed. In terms of theoretical setting and analysis, the book draws both from international business and industrial organization literature. The various characteristics of Indian industries, such as the determinants and impacts of R&D, the effects of spillovers, the drivers of productivity and technical efficiency are thoroughly researched employing appropriate quantitative methodologies that are relevant to the specific domain and topic under investigation. The book also focuses on the bearing of policy on promoting manufacturing industries in India and is therefore of interest to researchers, industrialists and policy makers alike.

This book analyses the current conditions of work in the Indian factory sector, and provides a critical analysis of the wage, profit and productivity behaviour in India’s organised manufacturing sector over the last two decades. Examining the specificities of the conditions of industrial workers, it addresses three major questions:/-//-/- What has happened to the relative shares of profits and wages;/-/- How do we explain the levels and changes and;/-/- Are better labour standards antithetical to the project of industrial restructuring?/-//-/The author also examines the problem of industrial restructuring in India within the broader context of power and inequality in the workplace. He argues that even though the existing laws mandate decent labour conditions, India has been unable to implement them because of the minimalist position taken by successive governments./-//-/Providing new and fascinating insights into industrial growth, labour standards and development in the framework of globalisation, this book will interest students and scholars of economics, economic history, political science and sociology, as well as students of management and labour relations.

In India, The Move Towards Globalisation And Free Trade Coincided With The Process Of Structural Reforms And Economic Liberalisation That Began In July 1991. Since Then The Country Has Seen A Significant Integration Of Markets In Commodity, Services, Finance And Technology With Other Countries. Right At The Outset Of Globalisation, Some Persons In India Like Those In Other Developing Countries Were Against This New Trend, Perceiving It As Elite-Driven And Incapable Of Bringing Qualitative Change In Peoples Lives. Fear Of Lagging Behind In The Race With The Advanced Countries, Which Would Ultimately Capture A Lion S Share In The Global Market, Had Further Led Some People To Oppose Globalisation.But The Present Scenario Is Altogether Different. India S Apprehensions About Globalisation Have Been Removed To Some Extent. Economic Liberalisation Has Paved Way For Rapid Technological Progress For India While Globalisation Has Given Its Young Talent Vast Employment Opportunities In America And Europe. Today, India Has Become A Big Market For Multinational Giants. There Is Hardly A Big-Name Company That Is Not Outsourcing To India. India Has Developed Several Hubs Of Information Technology-Enabled Services, Business Process Outsourcing, Research & Development, Pharmaceuticals And Telecommunication. On The Contrary, The Advanced Countries Like The United States Are Now Fearing Globalisation Because They Are Losing Jobs In The International Corporate World To Indian Technical Experts. Globalisation And Liberalisation Have Brought New Opportunities In Our Country In Trade, Business, Services And Employment. The Atmosphere Is Vibrant. The Younger Generation Is Educated, Talented And Ambitious. The Opening Of International Markets Has Led To Earnest Endeavours To Improve Product Quality To Secure Marketing. Internationalisation And Privatisation Of Education Has Led To Updating Of Curriculum And Bring Technical Manpower That Would Implement The Latest Technology In Manufacturing And Servicing. The Globalisation Should Be Made An Instrument Of Rapid Economic Development In A Way That Its Benefits Reach All Regions Of The Country And All Sections Of Society.The Volume Has Wide Coverage Including In Its Spectrum The Structural Changes In The Indian Economy. Contributors To This Volume Have Not Only Recognised The Reality Of Globalisation As A Process Of Change But Have Also Comprehensively Dealt With The Major Issues And Concerns For India In The Context Of Globalisation. The Papers Closely Examine Important Implications And Impact Of Liberalisation And Globalisation Measures Taken By The Government In Recent Years.It Is Hoped That The Book Would Be Found Useful By The Researchers And Students Of Economics, Businessmen, Government Executives, Parliamentarians And Legislators, Concerned With The Formulation And Execution Of Economic Policies, And The General Readers Interested In Knowing The Changes That Are Taking Place In Our Economy.

The book outlines the importance of Indian manufacturing sector and its growth under alternative policy regimes. The authors highlight the significance of various firm-specific and macroeconomic factors on the level of efficiency and profitability of the firms operating in the diverse manufacturing sector during the post-liberalization era. The book also examines the dynamic relationship between the select manufacturing sector-specific stock market indices and the various macroeconomic variables.

This book presents the changing contours of India s position in the global economy. The first section deals with India s defensive posture in the nineties vis-à-vis the Multinational Companies. The resistance to speedy opening up of the economy has enabled Indian businesses to become globally competitive. The second section deals with the challenges before Indian in the begging of the 21st millennium as she is increasingly recognized as a world power. The earlier defensive posture has to be change into an offensive posture now with India aiming to break the economies of the rich countries. This can be done, for example, withdrawing forex reserves from US T-Bills. The third section deals with the challenges before India in establishing a just world order. The question in how to break the inherent injustice in the world economy where 20 percent of the people of rich countries are consuming 80 percent of the resources. India should not tie its wagon to the engine of rich countries and try to gain form injustice of the present world order. Instead, India must take the lead in confronting the injustice perpetrated by the rich countries, organize the developing countries and establish a world economy based on justice.

Globalization has affected a change across the regions of the world and India is no exception. The national economy has become far more integrated with the global economy now. However, there are large parts of the underdeveloped regions that suffer from endemic underdevelopment. The north-eastern region is one such region. The relevance of Globalisation in the context of the North-Eastern Region of India has additional implications in terms of social and political integration. The most important characteristic of the north-eastern region is that all the constituent units (states) are relatively closed ethnic groups. All the states in the region share porous international border. Consequently, both product and factor markets in these states have some international dimension. Given the socioeconomic and geopolitical dimensions in the region, the prevailing pattern of development in these states has also culminated in the form of social unrest and degradation of economic values. This clearly implies that the development policies and programmes have fallen short of meeting the social and economic aspirations of the indigenous population in the region. In this context, the question that arises is how the forces of Globalization and economic growth could be combined together to address the implicit and most relevant questions associated with migration, unemployment and development of trading activities in the perspective of North-Eastern Region of India.