Critical Political Economy of South Asia – serie

Why are inter-state differences in human development in India so high? What explains regional patterns where overall the southern region has some of the best human development outcomes in the country while the states in the northernheartland have the worst? In addressing these important questions, this volume provides a detailed analysis of heal

While there have been many books about China’s growing economic role in Africa, this book explores the much less-well-known story of India’s growing economic role in Africa. And like the big debates about China’s role in Africa, this book similarly asks if India is acting as a helpful development partner in Africa, an exploitative “new colonizer,” or if the answer ultimately has to do with the degree of agency exercised by African governments.While the book documents the significant increase in Indian aid, trade, and FDI in Africa in the new millennium, it also offers much more. It comprehensively looks at theories of economic development, the debates about the role of trade and industrial policies in economic development strategies, colonial and post-colonial literature, and controversial features of today’s global political economy as the background to study Africa and frames Africa–India economic relations in these broad contexts. The book reviews the history of India’s diplomacy, trade, and investment in African countries since decolonization, with a focus on the increased economic ties of the past two decades. The main question examined is about the longterm impact that India’s economic relations are having in African economies, and if India is helping Africa to successfully develop over time, or not. The author examines India’s economic and strategic interests in the African region and offers a comparative analysis of Africa’s trade with India, China, the European Union, and other African nations. The book also explores a number of outstanding issues in India–Africa relations today, such as Africa’s role as a source of oil, gas, and critical minerals needed by India, the lifesaving role of Indian generic medicines across the continent, the nature of the agricultural development model that India is introducing in Africa, and key areas where Indian and African governments are cooperating in the international arena.The book offers a critical and in-depth look into the partnerships India has developed with African countries and contributes to the debate on economic relations between a more developed emerging market like India and less developed countries. A major contribution to the emerging area of South–South economics, this book–part of the Critical Political Economy of South Asia series–will be useful for scholars and researchers of economics, development economics, development studies, public policy, diplomacy, African studies, political economy, South Asian economics, and international politics and trade.

This book examines the linkages between exchange rates and India’s merchandise trade since the 1990s. It looks at India’s trade in the post-liberalisation period through its two main components: commodities and trading partners, and provides a bird’s eye view through aggregate analyses accompanied by a historical narrative of the evolution of trade and exchange rate dynamics. Presenting a comprehensive analysis of bilateral and product-specific trade, the book explores the impact of exchange rate on labour intensive sectors and charts out major development. It also offers compelling evidence to suggest that if some commodities are identified as integral to India’s export plans, then the impact of exchange rate must be weighed by the Reserve Bank of India (RBI) prior to a market intervention. This timely volume will be of interest to scholars and researchers of economics, business and finance, development studies, trade, business, and industry as well as practitioners, think-tanks, and policy makers.

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 is one of the first critical analyses of the automobile industry in India. It studies the sector in general and the passenger car industry in particular, and provides valuable insights into the operation of Foreign Direct Investment (FDI) companies in a technology-intensive industry under changing economic regimes. The volume underlines the influence of the changing nature of foreign investment, the impact of economic reforms, technology regimes and industrial policy on growth, structural changes and development. It offers a detailed account of the trade performance of manufacturers in India’s passenger car industry. It also looks at successful cases to draw policy lessons towards encouraging quality FDI and developing India as a base for world production. A useful addition to industry studies in India, this book with its wide coverage and contemporary analyses will interest scholars and researchers of economics, Indian economy and industrial policy, industrial economics, automobile industry and manufacturing sector, development economics and international economics. It will also appeal to policymakers, practitioners and industrial associations.

Labour market flexibility is one of the most closely debated public policy issues in India. This book provides a theoretical framework to understand the subject, and empirically examines to what extent India’s ‘jobless growth’ may be attributed to labour laws. There is a pervasive view that the country’s low manufacturing base and inability to generate jobs is primarily due to rigid labour laws. Therefore, job creation is sought to be boosted by reforming labour laws. However, the book argues that if labour laws are made flexible, then there are adverse consequences for workers: dismantled job security weakens workers’ bargaining power, incapacitates trade union movement, skews class distribution of output, dilutes workers’ rights, and renders them vulnerable. The book: identifies and critically examines the theory underlying the labour market flexibility (LMF) argumentemploys innovative empirical methods to test the LMF argumentoffers an overview of the organised labour market in Indiacomprehensively discusses the proposed/instituted labour law reforms in the countrycontextualises the LMF argument in a macroeconomic settingdiscusses the political economy of labour law reforms in India. This book will interest scholars and researchers in economics, development studies, and public policy as well as economists, policymakers, and teachers of human resource management.

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 examines the impact of economic reforms in India on the pharmaceutical industry and access to medicines. It traces the changing production and trade pattern of the industry, research and development (R&D) preferences and strategies of Indian pharmaceutical firms, patent system alongside pricing policy measures and their shortcomings. It also analyses the public health financing system in India driven largely by out-of-pocket expenditure — about 60 per cent — and characterised by very high share of medicines in total health expenditure.

This book is one of the first critical analyses of the automobile industry in India. It studies the sector in general and the passenger car industry in particular, and provides valuable insights into the operation of Foreign Direct Investment (FDI) companies in a technology-intensive industry under changing economic regimes. The volume underlines the influence of the changing nature of foreign investment, the impact of economic reforms, technology regimes and industrial policy on growth, structural changes and development. It offers a detailed account of the trade performance of manufacturers in India’s passenger car industry. It also looks at successful cases to draw policy lessons towards encouraging quality FDI and developing India as a base for world production. A useful addition to industry studies in India, this book with its wide coverage and contemporary analyses will interest scholars and researchers of economics, Indian economy and industrial policy, industrial economics, automobile industry and manufacturing sector, development economics and international economics. It will also appeal to policymakers, practitioners and industrial associations.

This book examines the linkages between exchange rates and India’s merchandise trade since the 1990s. It looks at India’s trade in the post-liberalisation period through its two main components: commodities and trading partners, and provides a bird’s eye view through aggregate analyses accompanied by a historical narrative of the evolution of trade and exchange rate dynamics. Presenting a comprehensive analysis of bilateral and product-specific trade, the book explores the impact of exchange rate on labour intensive sectors and charts out major development. It also offers compelling evidence to suggest that if some commodities are identified as integral to India’s export plans, then the impact of exchange rate must be weighed by the Reserve Bank of India (RBI) prior to a market intervention. This timely volume will be of interest to scholars and researchers of economics, business and finance, development studies, trade, business, and industry as well as practitioners, think-tanks, and policy makers.

Why are inter-state differences in human development in India so high? What explains regional patterns where overall the southern region has some of the best human development outcomes in the country while the states in the northern ‘heartland’ have the worst? In addressing these important questions, this volume provides a detailed analysis of health outcomes in India, especially its effects on women. It offers insights into how multiple factors affecting human development, in particular health, play out differently in various socio-cultural and economic contexts. This book will interest scholars and researchers of sociology, development studies, gender studies, economics, public policy as well as general readers.

Labour market flexibility is one of the most closely debated public policy issues in India. This book provides a theoretical framework to understand the subject, and empirically examines to what extent India’s ‘jobless growth’ may be attributed to labour laws. There is a pervasive view that the country’s low manufacturing base and inability to generate jobs is primarily due to rigid labour laws. Therefore, job creation is sought to be boosted by reforming labour laws. However, the book argues that if labour laws are made flexible, then there are adverse consequences for workers: dismantled job security weakens workers’ bargaining power, incapacitates trade union movement, skews class distribution of output, dilutes workers’ rights, and renders them vulnerable. The book: identifies and critically examines the theory underlying the labour market flexibility (LMF) argumentemploys innovative empirical methods to test the LMF argumentoffers an overview of the organised labour market in Indiacomprehensively discusses the proposed/instituted labour law reforms in the countrycontextualises the LMF argument in a macroeconomic settingdiscusses the political economy of labour law reforms in India.This book will interest scholars and researchers in economics, development studies, and public policy as well as economists, policymakers, and teachers of human resource management.