Enhancing Productivity, Efficiency and International Competitiveness of Indian Economy
International Journal of Management Research and Technology, Vol. 2, No. 1, pp. 33-45, June 2008
13 Pages Posted: 11 Nov 2008 Last revised: 7 May 2015
Date Written: June 10, 2008
Indian economy has been recording impressive growth rates since 1991. This can be partly attributed to the multi-sector structural reforms aimed at enhancing productivity, efficiency and international competitiveness of the economy. The reforms have been undertaken gradually with mutual consent and wider debate amongst the participants and in a sequential pattern that is reinforcing to the overall economy. The financial markets have developed and are more integrated after the reforms, and regulatory and supervisory institutions have been set-up. The reforms, though slow paced initially but well synchronized, have begun to yield results. The economy has recorded consistently high growth rates, avoided any adverse impact from the South East Asian crises, built substantial foreign exchange reserves, pre-paid some of its external debt and restructured its domestic debt. An attempt is made in this paper to figure out the challenges and threats that lie ahead in Indian economy. The study also raises a number of questions that need further analysis to enable us to understand better the continuing and likely impact of the economic reforms in India.
Keywords: Indian Economy, Trends and Issues, Poverty, Agriculture, Economic Reforms
JEL Classification: E21, J24, O10, Q18
Suggested Citation: Suggested Citation