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Negotiating in India: Does Brahmanical Idealism Play a Constraining or a Facilitative Role?

In: Institutional Dynamics and the Evolution of the Indian Economy

Author

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  • Rajesh Kumar

Abstract

India is now emerging as one of the giants of the twenty-first century. Economic reforms initiated in 1991 have created the foundation on the basis of which the Indian economy has exhibited, and continues to exhibit, a remarkable dynamism. Analysts estimate that India will grow at a rate of 8% per annum till 2020. One key implication of this is that the Indian economy will surpass that of Italy, France, and the United Kingdom by 2017.1 The acceleration of growth in India is paralleled by greater involvement in the world economy. Analysts note that foreign direct investment (FDI) in India has increased from US$100 million in 1990–1991 to US$19.5 billion in 2006–07.2 Similarly the ratio of trade (goods and services) as a percentage of gross domestic product (GDP) has increased from 16% in 1990–1991 to 49% in 2006–2007.3

Suggested Citation

  • Rajesh Kumar, 2009. "Negotiating in India: Does Brahmanical Idealism Play a Constraining or a Facilitative Role?," Palgrave Macmillan Books, in: Murali Patibandla & Rajesh Kumar (ed.), Institutional Dynamics and the Evolution of the Indian Economy, chapter 8, pages 171-187, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-62013-1_8
    DOI: 10.1057/9780230620131_8
    as

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