export and economic growth - …

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1、INDIA’SEXPORTPERFORMANCEUNDERTHEWTOREGIMETHESISSUBMITTEDTOTHEUNIVERSITYOFLUCKNOWFORTHEDEGREEOFDOCTOROFPHILOSOPHYINAPPLIEDECONOMICSByKALPANASHARMAUnderthesupervisionofProf.NARSINGHM.com.,Ph.D.,P.D.R.(Hungary)FMSH(Paris),FUR(Germany)HEADDEPARTMENTOFAPPLIEDECO

2、NOMICSFACULTYOFCOMMERCEUNIVERSITYOFLUCKNOWLUCKNOW2013PREFACETheroleofexportshasbeenwidelyrecognisedasanimportantinstrumentforcountry’seconomicdevelopmentprocess.Exportsgrowthbuildsimportcapacityandindustriesengagedinexportsproductionhavethehighintensitytoab

3、sorbsurplusoflabourforceofdevelopingcountrylikeIndiawhichtherebyleadstothecreationofemploymentandincreaseinincomewhichleadstoriseinsavingswhichistransferredintoinvestmentinphysicalandhumancapital,andthusintherateofeconomicgrowth.UntilThirdFiveYearPlanthemaj

4、orthrustofGovernmentofIndiawasonpursuinganinwardorientedimportsubstitutionpolicy,howeveritentailedhigherdomesticresourcecostandalsoincreaseddependencyofthecountryontheindustrialistworld.Overtime,thereforethestressonimport-substitutionwasgraduallydilutedande

5、mphasisbegantobeplacedonexports.Withthisvariouspolicyincentivesinordertoencourageexportswasintroducedinforeigntradepolicies.Themosteffectivemeansencouragingoutwardorientationistolowertariffsonimportssothattheanti-exportbias,bothinpoliciesandmind-setsgetcorr

6、ected.Theeconomicreformsof1990swithfocusonliberalisationhaveenabledincreasedintegrationoftheIndianEconomywiththerestoftheworld.FurtherthecreationofWTOhadprovidedanexportfriendlyenvironmentandwiderscopeofaccesstonewmarketsthroughgreaterliberalisationinintern

7、ationaltraderules.TheWorldTradeOrganisation(WTO)isthesuccessorofGATTandcameintoexistenceonJanuary1,1995withtheobjectivetoenforceanopen,equitable,non-discriminatoryandrulebasedmultilateraltradingsystem.IndiaisthefoundermemberoftheWTOandvariousprovisionandagr

8、eementsunderWTOhavecertainlyaffectedIndia’sexporttrade.SomestudyhasshownIndiahasbeenbenefitedfromthenewtraderegimeunderWTOespeciallyinabsolutetermswhileothersexhibittherehasbeenlittlebenefittoIndia.The