Chapter

Doing Business in India

Edited by Naushad Forbes

in Economic Policy Reforms and the Indian Economy

Published by University of Chicago Press

Published in print July 2002 | ISBN: 9780226454528
Published online February 2013 | e-ISBN: 9780226454542 | DOI: http://dx.doi.org/10.7208/chicago/9780226454542.003.0005
Doing Business in India

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This chapter evaluates the changes in the environment in which private firms operated between the period just prior to reforms and the late 1990s. It also explores how technology and innovation have changed in Indian industry. The slowdown has been particularly important as a driver of change in industry. Through 1991, Indian industry is becoming normal. The success of liberalization for Indian industry will finally lie in the emergence of internationally competitive firms. The criteria for success in Indian industry have changed from capturing industrial licenses through acquaintance with Rajiv Gandhi, bribes for bureaucrats, or liaison men in Delhi. The changes since 1991 have unleashed a new dynamic in Indian industry, a dynamic that is forcing change in every sector as firms are finally compelled by new firms and by the availability of imported products to provide consumers with products, prices, and service that begin to approach internationally competent levels.

Keywords: private firms; Indian industry; liberalization; technology; innovation

Chapter.  15042 words. 

Subjects: International Economics

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