Make in India: Which Exports Can Drive the Next Wave of Growth?
IMF Working Papers, May 29, 2015
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Bibliographic details
- Authors: Rahul Anand, Kalpana Kochhar, Saurabh Mishra
- Published: May 29, 2015
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781513597393.001
Summary
- Structural transformation depends not only on how much countries export but also on what they export and with whom they trade.
- This paper analyzes India’s exports by the technological content, quality, sophistication, and complexity of the export basket.
- The paper breaks new ground in analyzing India’s exports across those dimensions and identifies priority policy areas to shift the export structure toward higher productivity activities.
Five priority policy areas (as identified in the paper)
- (1) Reduction of trade costs, at and behind the border.
- (2) Further liberalization of FDI including through simplification of regulations and procedures.
- (3) Improving infrastructure including in urban areas to enhance manufacturing and services in cities.
- (4) Preparing labor resources (skills) and markets (flexibility) for the technological progress that will shape jobs in the years ahead.
- (5) Creating an enabling environment for innovation and entrepreneurship to draw the economy into higher productivity activities.
Major themes and analytical focus
- Comparative analysis of India’s export basket emphasizing:
- Technological content.
- Quality and sophistication.
- Complexity of products and services exported.
- Examination of services export sophistication and merchandise export network structures (product space, network map of merchandise export).
- Contextualization vis-a-vis peer emerging markets (EMs) and regional partners.