BackPolicy: A cup half full
India's efforts towards strengthening economic institutions and establishing new ones have, at best, been half-baked
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The good thing about economic policymaking in India has been its continuity, irrespective of the government in power, but efforts towards strengthening existing economic institutions and establishing new ones have, at best, been half-baked. Although the government has liberalized the foreign investment regime, manufacturing has failed to take off. While the government has signed a number of free trade agreements with key trading partners, these have only added to the nation’s rising import bill because it has either failed to wrest substantial market access in the services sector, where it has an upper hand, or failed to use what it bargained for.
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