Chapter

International Trade and Investment

T.N. Srinivasan

in Eight Lectures on India's Economic Reforms

Published in print June 2000 | ISBN: 9780195652826
Published online October 2012 | e-ISBN: 9780199080649 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780195652826.003.0008
International Trade and Investment

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This chapter examines the history of reform for international trade and investment in India. It explains that India's insulation from world markets until the reforms of 1991 stemmed from a long-standing distrust of markets and international trade in general and the fear that greater involvement in foreign trade would inevitably retard India's industrialization. It discusses consumer goods imports and infrastructural constraints on foreign trade. It highlights India's failure to share in the expansion of private capital flows in the 1990s. Developing countries as a group attracted foreign direct investment of $29 billion per year on an average during 1986–91 and India only had a 0.5 per cent share of these investments.

Keywords: international trade; investment; India; industrialization; consumer goods import; foreign trade; infrastructure; developing countries; foreign direct investment

Chapter.  3847 words. 

Subjects: Economic Development and Growth

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