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Seventy Years of Industrial Policy & Promotion in India
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- Book Synopsis
- The industrial environment in India during 1947-80 was characterised by strong centralised planning, Government ownership of basic and key industries, excessive regulation and control of private enterprise, trade protectionism -- through tariff and non-tariff barriers -- and a cautious and selective approach towards foreign capital. It was a quota, permit and license regime guided and controlled by a bureaucracy trained in colonial style. Domestic competition was restricted, leading to lack of quality and cost consciousness in most segments of the industry. The level of protection offered to Indian industry, by way of qualitative import restrictions and tariffs, was unreasonably high, leading to high costs of production and inadequate technological dynamism. This so-called inward-looking, import-substitution strategy of economic development -- which failed to lay strong foundations for the future development of the country -- began to be widely questioned with the beginning of 1980s. Policymakers started realising the drawbacks of this strategy which inhibited competitiveness and efficiency and produced a much lower rate of growth than expected. Pressure was, therefore, mounting for industrial liberalisation owing to a host of internal and external factors. Tilt towards economic liberalisation started in 1985 when Government announced a series of measures aimed at deregulation and liberalisation of industry. These measures, described as the New Economic Policy, were followed by drastic changes introduced by the 1991 Industrial Policy Statement of the Government. As a result of economic reforms of the last 25 years, India is presently one of worlds fastest growing economies. In the last few years, it has emerged as a global economic power, leading outsourcing destination and a favourite of international investors. Indian industry has upgraded technology and product quality to a significant degree and met the challenge of openness after being protected for so long. Recently, the Government has launched a number of programmes/schemes to rejuvenate and modernise the Indian industry. These have included, inter alia, Start-up India Initiative, 2016, eBiz Project, Make in India Campaign, Stand-up India Scheme, Ease of Doing Business, India Aspiration Fund (IAF), Atal Innovation Mission (AIM), India Inclusive Innovation Fund (IIIF), Digital India, and Smart Cities Mission. This book contains 20 chapters which trace developments in different fields of industrialization in India during the post-Independence period. The book also explains the post-1991 key reform measures undertaken for making Indian industry internationally competitive. Current issues pertaining to this vital sector of the Indian economy are also examined.
- About The Author
- Professor G. Satyanarayana is presently UGC Emeritus Fellow at Sri Krishnadevaraya University (S.K. University), Anantapuram, Andhra Pradesh. He retired as Dean of Social Sciences and Director, Centre for the Study of Social Exclusion and Inclusive Policy from the same University. A gold medallist in M.A. (Economics), he has more than 100 research papers and six books to his credit. He successfully completed one major research project sponsored by the University Grants Commission (UGC), New Delhi. Earlier he worked as Director, College Development Council, S.K. University, Anantapuram and also as a senior research officer in the Centre for Planning and Development Studies, a premier State sponsored Research Centre in the University. Deeply interested in the economics of cottage and small-scale industries and environmental economics, Professor Satyanarayana has produced 38 Ph.Ds and 22 M.Phil. scholars in different areas of economic research. He was awarded the Andhra Pradesh State Best Teacher Award for the year 2010. Dr. Madhusudana H.S. is currently working as Associate Professor of Economics, Government First Grade College, Mulbagal, Kolar, Karnataka. He obtained his M.A. (Economics) and M.Phil. degree from Bangalore University, Bangalore in 1993 and 1996 respectively and obtained his Ph.D. Degree from Sri Krishnadevaraya University, Anantapuram, Andhra Pradesh in 2005. He has participated and presented research papers at various national and international conferences/semi
- Product Details
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- ISBN
- 9788177084511
- Format
- Hardback
- Publisher
- New Century Publications, (03 August 2017)
- Number of Pages
- 350
- Weight
- 932 grams
- Language
- English
- Dimensions
- 250 x 190 x 30 mm
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