The role of India and China is expanding in the global economy. A whole new array of economic and financial issues are emerging which need to be tackled if the current period of growth is to endure. The issues that need attention include how to expand the services sector, especially financial services; how to keep pace with the incredible growth of the manufacturing sector; how to ensure the widest possible diffusion of the huge economic gains seen over the last ten years and how to provide the framework for the development of two-fifths of the human race.

Economic Reforms in India and China: Emerging Issues and Challenges aims at providing the goals, strategies and policies to tackle these issues. It discusses the efforts to address issues like encouraging less successful sectors of the economy that have been complicated by forces of globalization and the ever-changing realities of today's global economy and appraises issues pertaining to economic reforms. The articles explore ways to improve the well-being of the poor, to design effective structures and institutions for poverty reduction and how the reforms, in their economic, political and social dimensions can be used to tackle global developmental issues.

Investment Climate and Productivity in Indian States

Investment Climate and Productivity in Indian States

Investment climate and productivity in Indian states
C.Veeramani and BishwanathGoldar


After nearly three decades of import substitution, economic liberalization was initiated in India in the early 1980s and intensified from the early 1990s. Investment activities in the industrial sector are no longer governed by national planning and by the objective of achieving balanced regional development. Instead, investment decisions are now made on economic considerations: it depends upon the returns that investors expect and the uncertainties around those returns. Under such circumstances, regions (or states) that are able to attract greater investment would grow faster and eradicate poverty quicker, while others lag behind. The extent of new industrial investment in a region, in turn, depends upon the expected productivity in the ...

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