Chapter

Appraising Industrial Policies of India and China from Two Perspectives

Amiya Kumar Bagchi and Anthony P. D’Costa

in Transformation and Development

Published in print November 2012 | ISBN: 9780198082286
Published online January 2013 | e-ISBN: 9780199082377 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198082286.003.0004
Appraising Industrial Policies of India and China from Two Perspectives

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This chapter reviews the industrial development experience of India and China from the 1950s onwards. The first part of the discussion focuses on India, beginning with the Nehru—Mahalanobis strategy of self-reliant industrialization that was broadly followed from 1955 to 1984. From 1985 began a turn towards Washington-inspired liberalization, culminating in the financial crisis of 1991. The changes since 1991 to date are then examined. The second part deals with China, focusing on the economic reforms of 1978 crafted by the Communist Party. The final section critiques the policies of the two countries from an ‘internationalist’ perspective of growth with equity, both within the country and across its borders.

Keywords: industrial development comparisons; industrialization; liberalization; economic policy; economic reforms; economic growth; growth with equity; Nehru-Mahalanobis strategy

Chapter.  12821 words.  Illustrated.

Subjects: Comparative Politics

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