India Goes Global: Its Expanding Role in the World Economy

Front Cover
International Monetary Fund, 2006 - Business & Economics - 194 pages
In the past few years, India has emerged as a global economic power. It is one of the world's fastest-growing economies, the leading outsourcing destination, and a favorite of international investors. But even with India's impressive recent achievements, the country continues to face considerable challenges as it seeks to sustain rapid growth and extend the benefits to all its citizens. Is India entering into a "Golden Age" or experiencing a period of rapid but ultimately unsustainable growth? The studies in this book examine in detail what lies behind India's recent economic rise and considers the steps needed to build on this success over the medium term.
 

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Contents

Indias Emergence on the Global Stage
1
2 Is Economic Growth Leaving Some States Behind?
12
3 Trade and Financial Openness
37
4 Maintaining Competitiveness in the Global Economy
56
5 How Can India Attract More Foreign Direct Investment?
73
6 On the Way to a WorldClass Banking Sector
88
7 Reining in State Deficits
109
MediumTerm Directions for Tax Reform
128
9 Making Tax Policy ProGrowh
146
10 Understanding the Growth Momentum in Indias Services
165
The Case of Indias Textile Sector
180
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