ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Sources of India's Export Growth in Pre- and Post-Reform Periods

The pace of India's export growth has not been distinctly high during the larger part of the post-reform period (1993-2005), though it has accelerated since 2002. In contrast to the pre-reform period (1950-90), the actual growth of exports in the post-reform period has been above the potential offered by the growth of world demand. The gap between the actual and potential is mainly explained by an improvement in the overall competitiveness of India's exports. The rapid growth of India's merchandise exports since 2002 gives no room for complacency since it has been mainly determined by a buoyant world economy. The competitiveness effect, though positive, has not been the major contributing factor to the acceleration in the growth rate of merchandise exports in recent years. It appears that exports have been adversely affected by the appreciation of the real effective exchange rate during the post-reform period.

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