Prior to independence in 1947, India was a typically backward economy suffering from the twin problems of rampant poverty and widespread unemployment, both making for a low general standard of living. Following 65 years of development efforts, India is presently one of world's fastest growing economies. Lately, it has emerged as a global economic power, a leading outsourcing destination, and a favorite of international investors. The country is now much more integrated with the world economy and has benefited from this integration in many ways. The outstanding success of information technology and IT-enabled services has demonstrated what Indian skills and enterprise can do. Similar strength is now evident in other sectors, such as pharmaceuticals, auto components, and textiles. Many predict that India will emerge as third largest economy in the world (after US and China) in a couple of decades. Members of the global economy, including businesses and foreign governments, have started taking note of India's rise and recognizing opportunities for investments and enterprise. India's massive workforce and democratic functioning suggest that the future of labor-intensive industry lies here. No doubt, India is poised to claim its rightful place as a world economic power in the 21st century, being referred to as the Asian Century. This book provides a comprehensive account of India's economic problems, policies, and performance during the post-independence period, with a focus on post-1991 period of economic reforms. The book will be of interest to teachers and students of economics, commerce, law, public administration, and business management.

Provides a detailed analysis of the achievements and disappointments of the modern Indian economy, and an exploration of the issues which are shaping India's economic future. Offers a comprehensive overview of the state of India's economy in the twenty-first century and is essential for postgraduates and scholars interested in this area.

The subject of India's rapid growth in the past two decades has become a prominent focus in the public eye. A book that documents this unique and unprecedented surge, and addresses the issues raised by it, is sorely needed. Arvind Panagariya fills that gap with this sweeping, ambitious survey. India: The Emerging Giant comprehensively describes and analyzes India's economic development since its independence, as well as its prospects for the future. The author argues that India's growth experience since its independence is unique among developing countries and can be divided into four periods, each of which is marked by distinctive characteristics: the post-independence period, marked by liberal policies with regard to foreign trade and investment, the socialist period during which Indira Ghandi and her son blocked liberalization and industrial development, a period of stealthy liberalization, and the most recent, openly liberal period. Against this historical background, Panagariya addresses today's poverty and inequality, macroeconomic policies, microeconomic policies, and issues that bear upon India's previous growth experience and future growth prospects. These provide important insights and suggestions for reform that should change much of the current thinking on the current state of the Indian economy. India: The Emerging Giant will attract a wide variety of readers, including academic economists, policy makers, and research staff in national governments and international institutions. It should also serve as a core text in undergraduate and graduate courses that deal with Indias economic development and policies.

This study of economic growth in India is both an interpretation of its trajectory since 1950 and an evaluation of its prospects in the near future. It is marked by theoretical integrity, historical perspective, thick description, discriminating use of econometrics, and definitive conclusions. Commencing with a favourable appraisal of the growth record of early independent India and an account of how this advantage was lost, the author proceeds to argue that by now it is more than just delayed liberalizing reforms that stand in the way of sustained double-digit growth rates. The prospects for high long-term growth in India are instead linked to the progress in the areas of agriculture and education, particularly schooling. Further, the author proposes that achieving inclusive growth, currently high on the Indian government's agenda, would be not merely politically rewarding but pivotal to maintaining the dynamism of the economy. The possibility of such an outcome, he shows, is tied more to the state's capacity to govern our public institutions than to its command over resources. To that extent the future of growth in India lies as much in the space of politics.

In this commemorative volume, India's top business leaders and economic luminaries come together to provide a balanced picture of the consequences of the country’s economic reforms, which were initiated in 1991. What were the reforms? What were they intended for? How have they affected the overall functioning of the economy? With contributions from Mukesh Ambani, Narayana Murthy, Sunil Mittal, Kiran Mazumdar-Shaw, Shivshankar Menon, Montek Singh Ahluwalia, T.N. Ninan, Sanjaya Baru, Naushad Forbes, Omkar Goswami and R. Gopalakrishnan, India Transformed delves deep into the life of an economically liberalized India through the eyes of the people who helped transform it.

Jacket is in very good condition, has minor wear to edges and at head and tail of spine. Book itself is in good condition, creased to spine, creased to covers along-side spine, minor wear at top and bottom of spine, bumped to corners. Contents are clean, bright and tight. J