Professional Documents
Culture Documents
India's Globalization
India
population
developing
have
bear
larger
populations
than
most
and
India's Globalization
While
still represents a case of limited integration compared with such dynamic economies
India's Globalization
The study delineates three broad periods in Indias recent economic history: (1) the period prior to liberalization (195657 through 197475), characterized as one of autarky and command and control economy; (2) the period of intermittent incremental liberalization(197576 through 199091); and 3) the period after the paradigm shift to an outward-oriented economic policy in 1991.
India's Globalization
The
study
finds
that,
whatever
the
India's Globalization
1.
has seen acceleration in its average annual rate of economic growth, from 3.4
India's Globalization
2.
Instead of deindustrialization, there has been industrial growth and, indeed, acceleration in the industrial growth rate. The average annual rate of industrial growth has jumped from 5.2 percent during the period of autarky to 7.0 percent after 1991. At the last rate, the value of manufacturing doubles about every ten yearsnot exactly deindustrialization.
India's Globalization
3.
India is now more competitive and is venturing forth into the global market.
economy.
India's Globalization
4.
Instead of economic destabilization, the globalization of Indias economy has led to fewer economic crises. The period of economic autarky before globalization was essentially one long, enduring crisis. Since the paradigm shift to economic liberalization in 1991, there has been a marked absence of economic crisis in India.
India's Globalization
5.
Instead of impoverishment, India has seen a long and unprecedented period of welfare enhancement. The period before globalization featured high levels of poverty. There has been a secular decline in poverty since 1975and inequality has not increased much. Of more concern is the matter of growing regional disparities in India.
India's Globalization
India
the globalization process. Rather than support the case of the critics, Indias
India's Globalization
The
India's Globalization
The