Export-Led-Growth: A Strategic Approach to India‟s Economic Development

Author: Himanshu Agarwal

Abstract:
Government of India after a ling struggle and worth some network, proved to be nearly fail may be because of either the defective policy structure or the short-vision of the policy-makers or the rising population, diversification of national setup or the financial crunch in meeting out expenses for the removal of above mentioned basic constraints. „Export-led-growth‟ is a strategy that encourages and supports production for exports. The rationale behind this belief is that the enhancing exports can play a pivotal role in the overall growth-process of the country. India is an interesting case study of the export and economic growth relationship. The present study evaluates the export-import policies followed in India and analyses time series data rigorously to draw conclusions regarding the various potential positive roles of exports if there are any, and suggests a suitable strategy for development in India. Overall, it may be fair to say that openness, by leading to lower prices, better information and newer technologies, has a useful role to play in promoting growth. But it must be accompanied by appropriate complementary policies (most notably, education, infrastructure, financial and macroeconomic policies) to yield strong growth results. The precise mix of trade and other policies that is needed will strongly depend on the specific circumstances of each country.

Keywords:Export, Import, Export-led-Growth, Economic Development

DOI:

International Journal of Trade & Commerce (Vol: 6 Issue:1)