Privatization and FDI: the Indian expeprience

T T Ram Mohan ()

ASARC Working Papers from The Australian National University, Australia South Asia Research Centre

Abstract: Both privatization and foreign direct investment (FDI) have been seen by a section of policy-makers, international agencies and the private sector in India and abroad as key components of India's reform program. These may not have been as critical to the first round of reforms initiated in 1991 but they certainly came to loom larger in the second half of the nineties, by which time the growth rate threatened to taper off, as part of "second generation" reforms. Yes, we have managed to attain a growth rate of 6% plus, the reformers said, but if we wish to ratchet it up to 7-8%, we would need reforms such as privatization and FDI. There were some who even presumed to quantify the potential impact on growth of each of these elements- for instance, privatization in itself was said to be capable of boosting growth by 1-1.5 percentage points.

Pages: 20
Date: 2007
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