Growth Industrialisation And New Economic Reforms In India

Extension lectures delivered by the eminent economists/scholars during 1994-1998.

Intensive study of small firms in industrial clusters and locations on how to create jobs and achieve Make in India goals.

Kosaraju Leela Krishna, b. 1935, Indian economist; contributed articles.

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.

Since 1991, the Indian economy has been exposed to economic liberalization and globalization in line with structural adjustment and stabilisation policies initiated by IMF and World Bank. This analysis outlines the controversial shift in Indian economic policy from State-oriented development strategy to market-oriented development that leaves decisions of production and distribution to be made by the market.

This book addresses the crucial question raised by recent economic reforms in India - why, after 45 years of support through policies of protection, did India need more time to become technologically competitive? The author concentrates on the performance of firms in the final goods sector, most of which are privately managed corporations, to demonstrate the stark contrast between India′s sophisticated manufacturing base and the near absence of visible innovative capabilities. The key policy issue, the author argues, lies in ensuring that firms operate in technologically productive modes of behaviour. And, the critical component of the innovation system lies in inducing the promoters of these firms to accept technologically focused organisational systems.