Make in India: Which Exports Can Drive the Next Wave of Growth?

67 Pages Posted: 21 Jul 2015

See all articles by Rahul Anand

Rahul Anand

International Monetary Fund (IMF)

Kalpana Kochhar

International Monetary Fund (IMF)

Saurabh Mishra

International Monetary Fund (IMF)

Date Written: May 2015

Abstract

Structural transformation depends not only on how much countries export but also on what they export and with whom they trade. This paper breaks new ground in analyzing India’s exports by the technological content, quality, sophistication, and complexity of the export basket. We identify five priority areas for policies: (1) reduction of trade costs, at and behind the border; (2) further liberalization of FDI including through simplification of regulations and procedures; (3) improving infrastructure including in urban areas to enhance manufacturing and services in cities; (4) preparing labor resources (skills) and markets (flexibility) for the technological progress that will shape jobs in the years ahead; and (5) creating an enabling environment for innovation and entrepreneurship to draw the economy into higher productivity activities.

Keywords: Exports, India, Manufactured goods, Services, Technological innovation, Foreign direct investment, Regional trade, Trade integration, Trade liberalization, Economic growth, Manufacturing, Innovations, transport, travel, vehicles

JEL Classification: F14, O14, O24, O57

Suggested Citation

Anand, Rahul and Kochhar, Kalpana and Mishra, Saurabh, Make in India: Which Exports Can Drive the Next Wave of Growth? (May 2015). IMF Working Paper No. 15/119. Available at SSRN: https://ssrn.com/abstract=2633907

Rahul Anand (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Kalpana Kochhar

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Saurabh Mishra

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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