ISSN (Online) - 2349-8846

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Pradeep Agrawal (1953–2017)

B B Bhattacharya (1945–2017)

Barid Baran Bhattacharya, BB to his colleagues and friends, passed away on 14 February 2017. His sad and untimely demise has been painful to those of us who had worked closely with him over the years. Although he had been fighting the emperor of maladies for some time, he seemed to be getting the...

Why Have Export-oriented Units in India Failed to Deliver?

The Export Oriented Unit scheme was launched in 1980 in India to boost exports and increase production. Though a number of provisions and exemptions including fiscal and non-fiscal incentives have been extended to the scheme, the performance of EOUs has been far from satisfactory, particularly in the last few years. If India is to achieve its target of $900 billion exports by 2020, the scheme needs a relook. This is pertinent given India's declining exports.

Time to Review the Special Economic Zones Act

The special economic zones initiative has not been able to take off in India due to a host of factors. The defi ned objectives of promoting investment, exports, forex and overall growth led by higher production of goods and services have failed to materialise. The November 2014 Comptroller and Auditor General report on these zones fi nds that they have cost the exchequer valuable revenue. It is time for the central government to review the SEZ policy framework.

Enlargement of EU

The latest expansion of the European Union (EU) has significant implications, particularly in terms of market access, for developing countries like India. There is a general apprehension that intraregional trade among the EU countries is likely to increase making the EU more protectionist. A study finds that the net impact on India is likely to be positive as the level of common external tariffs of the EU are lower than the average nominal tariffs prevailing in the acceding countries, except for few products like textiles, organic chemicals, leather products, etc.

China's Accession to WTO

This paper attempts to evaluate the implications of China's accession to the WTO in terms of its impact on the country's exports, imports and foreign investment inflows, and also discusses the likely effect of these developments for the Indian economy. The paper argues that in case of China, the changes consequent to accession to WTO will see an increase in economic activity, leading to a higher GDP growth rate. For India, the Chinese challenge can be met only if we strengthen the competitiveness of our economy further by undertaking additional reforms and improving infrastructure.

Argentina's Crisis: Causes and Consequences

During the east Asian crisis of 1997, Argentina was being referred to as a model state because of its fixed exchange rate regime. However, by 2001, due to several macroeconomic reasons the economy had collapsed. It is now clear that Argentina will reverse at least some of the economic reforms introduced by president Carlos Mennen in the early 1990s to survive the crisis it is currently experiencing. That small and open economies are far more susceptible to large external shocks, such as changes in foreign interest rates, terms of trade, regional contagion effects, etc, is among the many lessons of the Argentine crisis.
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