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India in the World Economy

Author

Listed:
  • Raj Aggarwal

    (Raj Aggarwal is a Frank C. Sullivan Professor of International Business and Finance, College of Business Administration, University of Akron, Akron. E-mail: aggarwa@uakron.edu)

Abstract

As the size and importance of its economy increases, India is becoming more integrated with the world economy. The process of deregulation and the economic reforms started in the early 1990s seem irreversible and continue to accelerate. In recent decades, transactions costs in India have been declining, especially as India deregulates its business environment. Consequently, Indian businesses are moving away from being widely diversified and vertically integrated business groups and are becoming focused, efficient, and often larger firms. In addition to the resulting corporate restructuring and increased domestic M&A, many Indian firms are investing overseas and becoming nascent multinationals. These changes mean that the global integration of the Indian economy will continue to increase.

Suggested Citation

  • Raj Aggarwal, 2010. "India in the World Economy," Review of Market Integration, India Development Foundation, vol. 2(2-3), pages 181-228, August.
  • Handle: RePEc:sae:revmar:v:2:y:2010:i:2-3:p:181-228
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