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

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Sugar Industry in Uttar Pradesh: Rise, Decline and Revival

Uttar Pradesh, a leading producer of sugar cane and sugar before independence, lost its pre-eminent position to Maharashtra in the 1960s, when the western state developed a formidable sugar industry in the cooperative sector. However, a recent resurgence has been noticed in UP, similar to the 1930s boom. This paper tracks different phases of the evolution of UP's sugar industry and examines the regional patterns within the state: how the industry that had originally developed roots in the eastern parts of the state, particularly the Gorakhpur-Basti belt, is now mainly concentrated in the western and central districts.

Restructuring of SLPEs in India

Between 1991-92 and 2002-03, state level public enterprises continued to incur net losses and showed the chronic tendency of accumulating losses. The paper provides an overview of SLPEs in India, in terms of various financial parameters, followed by a discussion of the privatisation scenario and the different practices of states in this regard. The differentiating features of the privatisation of SLPEs vis-à-vis central public enterprises are outlined to highlight the challenges states face in retaining their portfolios of SLPEs.

Executive Compensation, Firm Performance and Governance

This paper investigates the determinants of executive compensation using the most recent data on firm performance, corporate governance and managerial compensation from a large sample of Indian firms. A linear regression model is used to develop explanations for total chief executive officer compensation and the proportion of incentive pay that forms a part of the CEO's compensation. It is found that firm size is a significant determinant of both these aspects of CEO compensation. The results also show that CEOs who are promoters of their firms earn significantly more than their ordinary counterparts. Such individuals also earn a much larger component of their compensation as incentive pay. In addition, this study also quantifies the significant divergences in compensation policies between private and public sector firms.

Productivity in Indian Chemical Sector

The present study attempts to test the assumption of homogeneity of the sub-sectors in an industry with particular reference to the Indian chemical industry. The impact of economic reforms on the productivity levels of an industry at the aggregate and sub-sectors level do vary significantly. While the net impact of the reform process on total factor productivity growth was found to be poor at the aggregate level, the sub-sectors - drugs and pharmaceuticals and paints and varnishes, basic chemicals and dyes and dye stuff industries - greatly benefited from the liberalisation process. Within the sub-sectors, the worst affected was the fertiliser industry as the TFPG declined significantly in the post-reform period. In the same way, the productivity differentials are found at the firm level as well. While small firms experienced a fall in productivity levels during the post-reform period, the large firms could raise productivity. The differences in the productivity levels of small and large firms and among the sub-sectors within an industry reveal the heterogeneity of the industry.

Corporate Governance Codes in India

The debate on corporate governance in India derives significantly from Anglo-American experience, practice and literature. Indian CG codes based on the US and UK experience do not resolve specific governance issues plaguing Indian firms. In spite of best efforts to assimilate and apply international CG practices, the values embedded in our national culture have resulted in their desultory implementation. The article highlights those areas where Indian CG practices have diverged from international best practices and how these areas are proving to be challenges in promoting good governance culture in India.

Innovation Systems in India's IT Industry

The stellar performance of India's information technology sector has been acclaimed worldwide. Although India's export success in IT is widely attributed to its human capital, it is not clear whether this has also been accompanied by industry-wide innovation. This paper explores the innovative behaviour of firms in the IT sector. Although substantial efforts have been made over the past 50 years by the government in implementing various policy measures, building institutions, and putting strong emphasis on higher education, there has been a systemic failure to promote the emergence of networks of innovation. This, in turn, has impeded the innovation performance of the IT industry. There is a need to direct policy to address this systemic failure and bring in industry-wide innovation.

Competition in Indian Manufacturing Industries

This paper devises an improved turnover index and applies it to examine the mobility of firms in the Indian manufacturing sector during the post-reform period. The new index is used to test the stability of size ranks and analyse the changes in the degree of mobility. The paper studies the change in size distributions of industries and their inter- and intra-class mobility, and tests for the relationship between the dynamic index of competition and the direction of mobility of firms among manufacturing industries.

Industrial Sickness: Trends and Patterns

This paper attempts to trace the trends and pattern in industrial sickness during the pre- and post-reform periods, especially in the large and medium sector. The study shows that while the first period (the 1980s) was dominated by an ailing small-scale sector, the post-reform period (the 1990s) was one of sickness in the large and medium sector. The onset of recession in 1997 had an apparent immediate effect on non-SSI sickness, but its effects on the small sector were visible only after a two-year lag, indicating perhaps the greater resilience of SSIs.

Survival of Aligarh Lock Manufacturing Industry

The economic reforms have had profound implications across enterprises and industries, affecting the labour market, technical progress, productivity, work organisation, skill profiles, industrial relations and labour standards. Small-scale industries are probably affected most by these ongoing changes. This article examines the impact of globalisation on one such small-scale industry, lock manufacturing in Aligarh.

Pharmaceutical R&D for Low-Income Countries

Has the current portfolio of public, non-profit and private sector research initiatives, together with the extension of stronger intellectual property rights, been associated with any discernible change in broad based measures of R&D activity targeted at poor country markets? This paper is a follow-up to a 2001 baseline study of existing and historical R&D patterns and it revisits and updates the statistical series and reports on a second wave of R&D activity by Indian pharmaceutical firms. Taken as a whole, the various data sources examined in the paper point to a steady increase in pharmaceutical inventive activity in some areas of specific interest to developing countries. The set of diseases still in need of better low-cost treatments has seen a trend increase in its share of patenting and bibliometric citation. While overall investment in pharmaceutical R&D in India surged over the past five years, it became less targeted towards the health needs of the developing world.

Financial Management of Public Sector Enterprises in India

Financial management of resources in terms of profitability constitutes, by far, the most important aspect of operational efficiency of an enterprise. A public sector enterprise can discharge its social obligations better if it operates in a profitable manner. This paper presents an analysis of the profitability of central PSEs. The analysis seeks to answer the questions as to whether the profits earned by the PSEs are adequate and whether the rates of return earned by them are satisfactory. For the purpose of the study, the data have been taken from primary as well as secondary sources. While the secondary data relate to 137 PSEs for a period

An Enquiry into the Production Efficiency and Profitability of MSRTC

The Maharashtra State Road Transport Corporation has been instrumental in providing access and connectivity across the entire state. Over the last few years, due to a variety of factors, particularly falling load factors and competition from the private sector, MSRTC's financial performance has shown a marked deterioration. After the financial turnaround of Karnataka State Road Transport Corporation when it was split into four smaller organisations, it has shown a marked improvement in physical and financial performance. The same solution is suggested by many for large corporations like MSRTC. In this paper, we examine whether splitting of MSRTC into smaller regions would actually help in its financial recovery. Also, we examine the possibility of an improvement in financial profitability by means of enhanced input productivity.

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