|
|
Article: Reform spurs hard drive for exports. (Indian export promotion)(MEED Special Report: India & the Middle East)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- February 16, 1996
- Author:
CopyrightCOPYRIGHT 1996 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
India's international trade is booming, in a striking sign that the government's programme of economic liberalisation is working. Exports are up for the second year in succession, while imports are rising on the back of a strong industrial recovery in 1995.
The improved performance has been encouraged by sweeping measures to remove many of the remnants of the command economy. These include slashing import duties, full convertibility of the rupee and the simplification of import-export procedures. "After four years of liberalisation, the foreign trade sector has become the high growth sector, crucial for overall development including the balance of payments position ...