Structural Transformation of the Indian Economy (Paperback)

Economic development has often been associated with structural changes in any economy.The 1990's ushered a remarkable shift from the long-established principles held since Indian Independence(such as self-reliance and socialistic policies of economic development)which resulted in the isolation, overall backwardness and inefficiency in the Indian economy. The new economic reforms of '91 aimed at making India the fastest growing and a globally competitive nation.These reforms with respect to industrial sector, trade and financial sector aimed at making the Indian economy more efficient.Furthermore, the technical transfer from the multi-national companies put India on a higher footing. However, unlike various other economies India's growth path has been characterized by service-led rather than manufacturing-led growth. This book attempts to study the distinctiveness of the pattern of India's economic growth over the past few decades, which has probably gone unnoticed, as the euphoria over emergence of India as one of the fastest growing economies of the world seems to have overshadowed the fact of rather intriguing and somewhat a historical pattern of its growth.