Reviving India: Here's how.
6/30/2003
Written by two economics specialists, this book analyzes India's economy starting with a brief historical perspective. Although India had one of the most rapidly developing economies in the 1990s, it hasn't fully recovered from a slowdown in more recent years, and India's growth is not as substantial as other developing countries. The authors cite macroeconomic instability, a weak infrastructure, labor market issues, and restrictive laws as hampering the country's economic expansion. They suggest that domestic policy changes should include labor laws, bankruptcy and liquidation laws, and privatization of enterprises. Creating stronger communications, energy, financial, and transportation infrastructures will also help attract investment and boost India's performance in the global economy. Srinivasan chairs the department of economics at Yale University; Tendulkar is a professor of economics at the University of Delhi.