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20 years of economic reforms

20 years of economic reforms

On 24 July 1991, the Congress government, led by P.V. Narasimha Rao, announced what was termed the “New Industrial Policy", which paved the way for a new economic era in India by starting the process of liberalization. The policy, at one stroke, opened up the manufacturing sector by dismantling the system of licences and controls for most industries and allowed 51% foreign equity in Indian companies. Subsequent economic reforms carried out by Rao’s successors I.K. Gujral, A.B. Vajpayee and incumbent Prime Minister Manmohan Singh, who was Rao’s finance minister, unshackled India’s potential as a magnet for foreign investment. Today, India is not only the ninth most attractive destination for foreign direct investment (FDI), it is also courted as a source of investment by foreign leaders, most recently by British Prime Minister David Cameron. However, economic liberalization remains very much a work-in-progress as India debates further opening up of sensitive sectors such as defence, multi-brand retail and aviation. In the 20th year of economic reform, Mint chronicles how FDI in key sectors has helped unleash the potential of Indian companies and entrepreneurs.

PE firms | A cultural angle to investment (Read Story)

Raja Parthasarathy’s column | Higher education: tough road for private equity (Click Here to Read)

Vikram Utamsingh’s column | The paradox in India’s private equity space (Click Here to Read)

What works in US might not work in India ( Read Story)

FDI getting back on track ( Read story)

Strong stays the inflow (Graphics)

Auto sector in top gear ( Read story)

Retail sector may see foreign funds ( Read story)

Arpita Mukherjee’s column | FDI in multi-brand retail: debate wide open ( Click Here to Read)

Media attracting investors’ eyeball ( Read Story)

Vivek Gupta’s column | Vote for muti-layered investment norms (Click Here to Read)

Acquisition calls keep ringing (Read story)

Rashmi Banga’s column | Is India prepared for seeking low-carbon FDI? ( Click Here to Read)

Outbound FDI | A key chapter ( Read story)

Amit Mitra’s column | Africa, Latin America to be the centres of action ( Click Here to Read)

Drug makers turn to India ( Read story)

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