Structural transformation depends not only on how much countries export but also on what they export and with whom they trade. This paper breaks new ground in analyzing India’s exports by the technological content, quality, sophistication, and complexity of the export basket. We identify five priority areas for policies: (1) reduction of trade costs, at and behind the border; (2) further liberalization of FDI including through simplification of regulations and procedures; (3) improving infrastructure including in urban areas to enhance manufacturing and services in cities; (4) preparing labor resources (skills) and markets (flexibility) for the technological progress that will shape jobs in the years ahead; and (5) creating an enabling environment for innovation and entrepreneurship to draw the economy into higher productivity activities.

This book analyses India’s trade policy evolution in the last two decades in the broad context of trends and patterns in global trade and in particular, with reference to the emergence of global value chains (GVCs). Through an in-depth analysis of its trade policy evolution in the 2000s, the author explains India’s limited share of global merchandise trade, especially manufacturing trade and relatively low GVC integration. The book discusses India’s trade policy, pattern and global trade participation not just in the comparative context of China as is true of most analyses relating to the Indian economy, economic reforms and trade liberalization in India but also in the context of regional economies like Vietnam, Thailand, Malaysia, Bangladesh and other emerging market economies (EMEs) that have successfully integrated with GVCs/ RVCs in the period under reference. Progress and nature of India’s value chain participation relative to other economies has been evaluated in this context. The book further examines policy developments with respect to traditional trade measures like tariffs and export schemes, trade and GVC related policies in special economic zones (SEZs) as well as GVC-facilitating policy instruments such as regional/ free trading agreements (RTAs/FTAs) and investment treaties. Three sectoral case studies - automobiles, textiles and apparel and electronics - are presented to examine India’s participation in these dynamic GVC intensive sectors. An important study of one of the fastest growing economies in the world for almost two decades, this book will be of substantial interest to academics and policymakers in the fields of Economics, International Economics, Foreign Policy, Economic Relations, Economic Diplomacy, Indian- Southeast/East Asian Economics.

Providing a basic understanding of India's economy, this guide addresses topics such as growth, policy regime changes, unemployment, macroeconomic stabilization, agriculture, and development prospects.