This book looks at the debates on global value chains (GVCs) and free trade agreements (FTAs) as springboards for industrial development in developing countries, especially India. It connects the outcomes in GVC-led industrial restructuring and upgrading to industrial policy choices in trade and FDI liberalisation, in particular those through FTAs. With the share of manufacturing in GDP stagnant at around 15–16% since the 1980s, India’s policymakers have pinned their hopes on greater integration into GVCs to revitalise the manufacturing sector. The multiple FTAs the country has signed over the last few years, specifically the ones with the Association of Southeast Asian Nations (ASEAN), South Korea, Malaysia and Japan have been sought to be rationalised using the same argument. The book argues that failing to factor in the industrial policy causalities involved in sustainable indigenous technology development, structural barriers to the entry into GVCs, the assessments of the available evidence on the adverse impact of trade and FDI liberalisation as well as existing FTAs on firm-level incentives for undertaking domestic production, and the industrial policy constraints imposed by FTAs can prove costly for the trajectories of developing country economies, including India. Rich in data, this book will be useful to scholars and researchers of development economics, economics in general, development studies and public policy as well as government bodies, industry experts and policymakers.

This book assesses the performance of Indian industries from the perspectives of trade, investment, policy, and development incentives. It evaluates the relevance and the macro- and microeconomic impact of industrial policy on growth in different sectors of industry. The book examines India’s key policy initiatives and economic and institutional plans through many decades and examines their short and long-term effects on industrial environment and performance. It measures India’s strategic policies and efforts to promote industrialization against similar initiatives in countries like Germany, Japan, South Korea, and Taiwan. The volume also contextualizes the performance of different sectors of industry such as automobiles, electronics and information technology, and pharmaceuticals, among others, within the larger framework of global economic scenario and competition. This book will be of great interest to researchers and students of economics, political economy, industrial development and policy, and South Asia studies.

This book emphasizes the need for experimenting with more deliberate and rigorous policy processes to attain balanced regional development, which can promote both equity and efficiency in India’s development discourse. The institutional mechanisms for dealing with regional imbalance in India have not been very successful so far. With rising discrepancies in development, demand for autonomy continues along with a new dimension of regionalism arising from submerged identity along with political and economic aspirations, which demanded new channels for solution. So far, attempts to create space for autonomy have possibly not optimally accommodated the conceptual mechanisms like equity and democratic process. Thus democratizing policy process using six pillars of voice: knowledge, objective, fundamental values, implementation framework and public awareness can ensure a better policy outcome for dealing with the persistent challenges of regional disparity in India. This book further focuses on the need for democratizing the policy process for regional development through discussion and inclusion. Such a transition needs innovation in policy regime, which can be attained through following six pillars (i) Democratic voice of stakeholders in policy development and implementation; (ii) Clear policy objectives that advance the common good, based on voice; (iii) Unbiased, sound and comprehensive knowledge and data bases. (iv) Consistency with constitutional values; (v) A sound implementation framework ensuring user-friendliness, transparency and rationality of decision-making processes, effective grievance redress, clear accountability and independent evaluation; (vi) Public awareness and support of policies with relevant and public participation in implementation.

This book is a collection of fifteen contributions that undertake a detailed analysis of seven broad dimensions of India’s economy and society. All the contributions approach the problems in their respective areas empirically, while being theoretically informed. The book begins with a section containing detailed and empirically supported chapters on the recent crisis in India’s agricultural sector and the reforms in the agricultural markets. Another section is dedicated to the issue of infrastructure financing, and new ways of financing large infrastructural projects are critically examined. Other sections are related to innovations and technology impacts on industry; international trade; health and education; labor and employment; and the very important issue of gender. The selected discussion topics are both of contemporary importance and expected to remain so for some time. Most of the chapters introduce readers to data in addition to methods of analyzing this data, to arrive at policy-oriented conclusions. The rich collection carries learnings for researchers working on a wide range of topics related to development studies, as well as for policymakers and corporate watchers.

This book examines the nature, extent and implications of rapid strides digitalization has made in India since the turn of the millennium. These have been examined not merely in the sphere of information and communication technology (ICT) but its multifarious applications spreading across almost all aspects of production, services and institutions which have profound repercussions for the transformation of the society and economy at the micro, meso and macro levels. With contributions from both ICT scholars and social scientists, this book presents diverse scenarios and unravels challenges faced in the process of technical applications, access by the users of these disruptive technologies (automation, e-commerce, big data analytics & algorithms, artificial intelligence, cloud computing, etc.) which, unlike heavy machines (embodied technology), mostly defy physical space, pace of mobility and inoperability between technologies. Chapters in this volume address challenges and possibilities in establishing and operating intricate engineering infrastructure, technical and societal constraints encountered in broad-basing digitalization across layers of educational and social skills conducive to difficult geographies. Issues dealt within this book include farming, healthcare, education, food processing, e-commerce, labour, rural community development, open source data and information democracy. The chapters also reflect upon implications on local economy and society, of the very global nature of these seamless technologies where inter-operability remains the quintessential advantage of digitalization whether promoted or spearheaded through the state, private sector or global capital. The book critiques policy inadequacies and suggests plausible policy approaches to reduce the adverse impacts of fast digitalization and broad-base potential benefits across space and levels of socio-economic development of regions and society. This book would be of interest to scholars, practitioners, technocrats, industry analysts, policy makers and civil society agencies.

The world is grappling to come up with alternative imaginations for transformation despite repeated crises, inequalities and immiseration caused by the increasing dominance of the neo-liberal capitalist framework and the collapse of twentieth-century socialist models. This book looks at concepts that form the core of development economics and political economy and brings together perspectives that explore the inextricable relationship between development and human rights, social movements and the call for social transformation. The essays in this volume honour the massive corpus of work across a large number of areas around development issues by the eminent economist Jayati Ghosh. The book includes contributions by academics, activists and practitioners and attempts to understand the socio-economic causes of inequality, poverty and oppression. Divided into five parts – corresponding broadly to key areas of Ghosh’s work – the book explores capitalism, inequality and development, gender and development, political economy of trade and financial systems, human development and human rights, and music. The volume situates Ghosh’s work within a heterodox and broad-based understanding of development processes and provides many insights towards a new vision that sets an agenda for further research as well as mobilisation. This volume will be of great interest to students, researchers, practitioners and scholars working on the issues of development, transformations, political economy, social science, economics, macroeconomics, international economics, politics and development studies.

This book assesses the effects of globalization and neoliberal economic regimes in low- and middle-income countries, primarily on industries, investment and trade; finance and credit; and employment, gender and development. The volume – written to honour the rich academic work of the eminent economist Professor C. P. Chandrasekhar – addresses issues which are relevant to emerging economies and their concerns around development, investment, financial planning and adopting new technologies. It analyses the new financial systems and institutions and the dominance of global finance in policymaking in these countries and their effects in the postpandemic period. It examines the changing contours of finance, trade and labour models and laws in developing countries to assess the risks and concerns of economic crises and challenges. The volume does justice to an assessment of the macroeconomic and developmental implications of neoliberal policies in India while offering an insightful overview of the new economic practices and policies. It also offers suggestions and measures to address concerns regarding banking and global liquidity, reinforce robust strategies for growth in both small and large industries and bring in reform. This book will be of interest to scholars and students of economics, political economy, finance and trade, development studies and South Asian studies.

For decades, governments have tried to foster industrial competitiveness and economic growth. Many instruments are known to work, and many lessons have been learned. However, humanity is increasingly feeling the effects of natural resource depletion. The rate of this depletion is deeply unsustainable, and it is – as of yet – inextricably linked to economic growth and development. To preserve acceptable living conditions for future generations, while at the same time creating these conditions for millions of poor in the first place, we must achieve a de-linking of economic activity and resource depletion. This book identifies the drivers and success factors of green industrial policy, which seeks to reconcile the synergies and trade-offs which exist between economic and environmental goals. Greening the economy is a goal which will require enormous investment. As markets are currently failing to provide the required incentives for environmental sustainability, governments must intervene and provide ‘policy rents’ for investments in sustainability while withdrawing rents from polluting investments. In this they will face the risk of political capture by interest groups and difficult choices among technologies. Rent management is therefore the heart of green industrial policy and the focus of this book. On top of this, the country examples provided in this volume focus on the emerging powers, which will have an important influence the future of our planet. However, the lessons learned are valuable not only for countries introducing green industrial policies for the first time, but also for those under pressure to reform existing policies. This book will be of interest to students, researchers and policymakers in the areas of energy policy, sustainable development, industrial economics and ecological economics.

This volume is the result of the 2012 International Economic Association's series of roundtables on the theme of Industrial Policy. The first, 'New Thinking on Industrial Policy,' was hosted by the World Bank in Washington, D.C, and the second, 'New Thinking on Industrial Policy: Implications for Africa,' was held in Pretoria, South Africa.