Abstract
In 1991, India faced a balance of payments crisis. The Gulf War had led to a sharp increase in world oil prices, and import bills rapidly rose while trade deficits widened. Foreign currency assets had declined to Rs24 billion at the end of June 1991, barely enough to finance two weeks of imports. The government not only took recourse to the IMF by drawing twice, but also changed import substitution oriented policies, which had been maintained since independence. The change of policies is seen as economic reform.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Bhagwati, J.N. and T.N. Srinivasan (1975) Foreign Trade Regimes and Economic Development: India. New York: National Bureau of Economic Research.
Chandrasekar, C.P. (1996) ‘Explaining Post-reform Industrial Growth’, Economic and Political Weekly, special issue.
Fujita, K. (2002) ‘Indo Nogyoron, Gijyutsu, Policy, Structural Change’ (in Japanese), in H. Esho, (ed.), Gendai Minamiajia: Keizai fiyuka no Yukue. Tokyo: University of Tokyo Press.
Government of India (2001) Census of India, homepage, http://www.cen-susindia.net.
— (2002a) Report of the Special Group on Targeting Ten Million Employment Opportunities per year over the Tenth Plan Period.
— (2002b) Tenth Five Years Plan.
Government of Tamil Nadu (2000) Tamil Nadu — An Economic Appraisal 1999–2000.
Hirashima, S. (2003) ‘Indo Nougyou no Chukitenbou to Nihon OD A’, Kosusaigaku Kennkyu, March.
International Labour Organization (1996) India: Economic Reforms and Labour Policies. New Delhi: ILO.
Munirathnam, B. (2006) ‘Indo no Jyohiogijyutsu Sangyo’ (in Japanese), in S. Uchikawa (ed.), Yakudosuru Indo Keizai. Chiba, IDE-JETRO.
National Association of Software and Service Companies (NASSCOM) (2006) homepage, http://www.nasscom.org.
Kurosaki, T, and K. Yamazaki (2002) ‘Minami Azia no Hinkonmondai to Nosonsetai Keizai’ (in Japanese), in H. Esho (ed.), Gendai Minamiajia: Keizai fiyuka no Yukue. Tokyo: University of Tokyo Press.
Uchikawa, S. (2001) ‘Investment Boom and Underutilisation of Capacity in the 1990s’, Economic and Political Weekly, 25 August.
— (2002) ‘Investment Boom and Capital Goods Industry’, in S. Uchikawa (ed.), Economic Reforms and Industrial Structure in India. Delhi: Manohar.
Vaidya, R.R. (2002) ‘Intermediate Goods Industries: A Case Study of the Cement and Steel Industries’, in S. Uchikawa (ed.), Economic Reforms and Industrial Structure in India. Delhi: Manohar.
Editor information
Editors and Affiliations
Copyright information
© 2008 Institute of Developing Economics (IDE), JETRO
About this chapter
Cite this chapter
Uchikawa, S. (2008). The Position of India in the Asian Economy: Progress of Economic Integration and Poverty Alleviation. In: Fujita, M. (eds) Economic Integration in Asia and India. IDE-JETRO Series. Palgrave Macmillan, London. https://doi.org/10.1057/9780230591004_5
Download citation
DOI: https://doi.org/10.1057/9780230591004_5
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-35590-7
Online ISBN: 978-0-230-59100-4
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)