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Challenges and opportunities of India’s enhanced participation in the global economy

Author

Listed:
  • Isabelle Joumard
  • Christine Arriola
  • Marnix Dek

Abstract

India is becoming a key player in the global economy. It performs well in exporting information and technology services, pharmaceuticals and petroleum products. India’s large diaspora is well integrated abroad, helping to develop new export markets and facilitate the transfer of technology and know-how. India could perform better in some domains. These include labour-intensive manufacturing exports and foreign direct investment. Better performance in these areas would boost job creation and thus make growth more inclusive. It would require improving further infrastructure, in particular transport and energy provision, modernising product market regulations, developing skills, and reconsidering barriers to trade and investment. OECD simulations suggest that India would be a major beneficiary were barriers to trade and investment be reduced multilaterally. In the absence of a multilateral agreement, the economy would also gain from a unilateral liberalisation of trade and investment.This Working Paper relates to the 2019 OECD Economic Survey of Indiahttp://www.oecd.org/economy/india-economic-snapshot/

Suggested Citation

  • Isabelle Joumard & Christine Arriola & Marnix Dek, 2020. "Challenges and opportunities of India’s enhanced participation in the global economy," OECD Economics Department Working Papers 1597, OECD Publishing.
    • Handle: RePEc:oec:ecoaaa:1597-en
    DOI: 10.1787/a6facd16-en
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    More about this item

    Keywords

    foreign direct investment; globalisation; India; migration; simulations; trade;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • F6 - International Economics - - Economic Impacts of Globalization
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • F66 - International Economics - - Economic Impacts of Globalization - - - Labor

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