India: New
Economy, Old Economy
Economic Analytical Unit (EAAU)
Overview
A decade of economic liberalisation and reform in India has resulted in an improvement in the growth of income per capita, and critically, further advances in poverty reduction. Certain ‘new’ services sectors, like information technology, banking and finance, and telecommunications, have benefited most from the liberalisation, and have driven the improvement in growth performance. The southern and western states where these industries are concentrated have, as a result, also performed much more strongly since the reforms commenced. However, the economy remains constrained by budget deficits and high real interest rates, poor infrastructure, red tape, corruption, and restrictive labour and bankruptcy laws. These problems continue to hold back large parts of the ‘old’ goods-producing sectors, including manufacturing and agriculture, which employ the bulk of India’s labour force.
This in-depth study is intended to identify the opportunities in the Indian market for Australian businesses interested in expanding their trade and investment horizons. It analyses recent Indian economic performance, the political and business environment, developments in India’s most dynamic states, reform achievements over the last decade and the unfinished reform agenda. The report also analyses major trade and investment opportunities in sectors like information technology, infrastructure, agriculture, minerals and energy, and other industries like health, tourism and education. The report is due for release in late November, early December 2001
Other Details
The report is expected to be released in late November/early December of 2001. Australian organisations interested in being corporate sponsors of the report should contact the officer below.
Officer contact details:
Mr Michael Growder
Deputy Director
Economic Analytical Unit
michael.growder@dfat.gov.au
Phone: +61 2 6261 1101
Fax: +61 2 6261 3493
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