ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

India's Comprehensive Trade Agreements

Implications for Development Trajectory

India's recent overlapping comprehensive trade agreements, which combine accelerated goods trade liberalisation with deeper and wider liberalisation in agriculture, "investment" and services, have wide ramifications on her development despite the extent of liberalisation that the country has undertaken over the last two decades. It is argued that the growing trade deficit and the changed nature of recent foreign direct investment inflows already throw up industrial policy and financial regulatory challenges before India for developing dynamic competitiveness and reducing financial fragility in the economy. The investment provisions in the recent comprehensive trade agreements compound the dissonance between India's development needs and industrial and macroeconomic policies by putting World Trade Organisation-plus constraints on the country's regulatory ability.

Smitha Francis is thankful to the Indian Council for Social Science Research for a research grant that supported a research survey of India’s preferential trade agreements, the original inspiration for this work, and gratefully acknowledges the comments received from Jayati Ghosh, Prabhat Patnaik and Amiya Bagchi, and the participants at the ICSSR Research Surveys Workshop, 4-7 May 2011, at ICSSR, New Delhi. An earlier version of this paper was presented at the ARTNeT Symposium “Competitiveness and Economic Diversifi cation in Asia and the Pacific – Towards a Return of Industrial Policy”, 25 July 2011, UNESCAP, Bangkok. The usual caveat applies.

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here


To gain instant access to this article (download).

Pay INR 200.00

(Readers in India)

Pay $ 12.00

(Readers outside India)

Back to Top