Global Competitiveness

Type :

Term papers

Pages :

12 pages

Format :

.doc

Published date :

09/21/2009

Category :

Economics & finance

Sub category :

Economics

Oboulo.com selection criteria

$ 19.95 Add to cart

Summary :

Introduction
Meaning and definition
Role of the industry in India
Growth of industrial sector in India
1. On the basis of size of industries
2. On the basis of end-use
Problems of industrial development in India
1. Failure to achieve targets
2. Under-utilization of capacity
3. Increasing capital-output ratio
4. High cost industrial economy
5. Inadequate employment generation
6. Poor performance of public sector
7. Sectoral imbalances
8. Regional imbalances
9. Industrial sickness
Effects of globalization on Indian economy
New small scale industries policy of 1991
The Indian plastics industry
Globalization of plastic industry
Threats of plastic industry
Conclusion

Abstract

A global economy is different from a closed economy. There is a basic qualitative difference between a closed economy and a globalize economy. A closed economy is subject to money rules, regulations and restrictions. A global economy on the other hand is the one:

- Where there is a free movement of products, factors, technology, ideas and knowledge.
- Where there is uniformity of rules and regulations, presence of fully convertible currencies and free exchange of goods and
services.
- Where commodity prices, factors prices and exchange rates are determined in the open market by forces of demand and supply.
- Where the only function of the government is that of a regulator and provision of social services like health, education etc.
- Where resources are allocated as between various activities according to market forces only.

In the Indian context, it implies opening up of the economy to foreign direct investment by providing requisites facilities, removing administrative and other constraints, allowing Indian companies to enter into joint ventures and foreign collaborations, bringing down quantitative and non-quantitative restrictions to trade, diluting the role of public sector and encouraging privatization and so on. Beginning haltingly in 1980s, globalization got the real thrust from the new economic policy of 1991 and it was further pushed forward by the coming up of the World Trade Organization (WTO). Globalization would eventually mean being able to manufacture in the most cost effective way anywhere in the world.