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1、INDIAS EXPORT PERFORMANCE UNDER THE WTO REGIMETHESISSUBMITTED TO THE UNIVERSITY OF LUCKNOWFOR THE DEGREE OFDOCTOR OF PHILOSOPHYINAPPLIED ECONOMICSByKALPANA SHARMAUnder the supervision ofProf. NAR SINGHM.com., Ph.D., P.D.R. (Hungary)FMSH(Paris), FUR (Germany)HEAD DEPARTMENT OF APPLIED ECONOMICSFACULT
2、Y OF COMMERCEUNIVERSITY OF LUCKNOWLUCKNOW2013PREFACEThe role of exports has been widely recognised as an important instrument for countrys economic development process. Exports growth builds import capacity and industries engaged in exports production have the high intensity to absorb surplus of lab
3、our force of developing country like India which thereby leads to the creation of employment and increase in income which leads to rise in savings which is transferred into investment in physical and human capital, and thus in the rate of economic growth. Until Third Five Year Plan the major thrust
4、of Government of India was on pursuing an inward oriented import substitution policy, however it entailed higher domestic resource cost and also increased dependency of the country on the industrialist world. Over time, therefore the stress on import-substitution was gradually diluted and emphasis b
5、egan to be placed on exports. With this various policy incentives in order to encourage exports was introduced in foreign trade policies. The most effective means encouraging outward orientation is to lower tariffs on imports so that the anti-export bias, both in policies and mind-sets get corrected
6、. The economic reforms of 1990s with focus on liberalisation have enabled increased integration of the Indian Economy with the rest of the world. Further the creation of WTO had provided an export friendly environment and wider scope of access to new markets through greater liberalisation in interna
7、tional trade rules. The World Trade Organisation (WTO) is the successor of GATT and came into existence on January 1, 1995 with the objective to enforce an open, equitable, non-discriminatory and rule based multilateral trading system. India is the founder member of the WTO and various provision and
8、 agreements under WTO have certainly affected Indias export trade. Some study has shown India has been benefited from the new trade regime under WTO especially in absolute terms while others exhibit there has been little benefit to India. The creation of WTO had significant impact on Indias foreign
9、trade policy and apart from reduction in tariff barriers, all quantitative restrictions imposed by India on its imports and exports have been removed. The high export growth and improved share of India in world merchandise and service exports was made possible due to greater orientation in internati
10、onal market brought about by WTO and of course due to the export promotion measures adopted by the Government of India. In post WTO period there has been substantial structural changes in Indias exports with steep fall in the share of primary exports and relative increase in importance of manufactur
11、ed products with the considerable improvement in the share of the exports of engineering goods, gems and jewellery, readymade garments and chemicals products. Indias exports have shown a steady trend towards higher technology content, Indias specialization in exports lies in manufactures based on la
12、bour and natural resources essentially involving low technology. Given the exports structure of India, the potential for further growth of manufactured goods, especially to the developed markets remains high. Apart from manufactured goods petroleum products exports have shown drastic rise in past de
13、cade. The share of traditional agricultural items like tea, coffee, cotton etc. in total exports has declined whereas as rice, spices, sugarcane, vegetables and fruits and marine products are the key production items for India with significant share in Indias total agricultural exports. Indian servi
14、ces exports has been rising importance globally and especially in case of business and software services. Indias share in world export of services has constantly improved and had reached to 3.23 per cent in 2011 with 8th rank in world exports. UK and USA remained the top destination for Indian servi
15、ces export. Indias export of services has grown at faster pace than merchandise exports under WTO regime.Markets of Indian exports diversified from exclusive reliance on the developed market economies to other developing countries. Export of many commodities like rice, spices, tea, gems and jeweller
16、y, textile products, few chemical products and leather products etc. and services like software, computer and information and communication services has exhibited competitiveness in the international market.The major challenge the Indian export sector is facing is to enhance its productivity, share and competitiveness in an increasingly integrated global environment. The creation of WTO has culm
