The Balance of Payments as a Constraint on Expansion and Job Creation in India

Abstract

The purpose of this paper is to examine empirically the experience of the Indian development process as regards the nature of the relationship — in terms both of conflicts and complementarities — between three interrelated economic activities (all of them related to specified objectives in the development process): trade activity, overall economic growth and employment. In any discussion of these interrelationships, a study of the role of the development strategies also becomes relevant. Thus, certain aspects of the trade policies, growth strategies and employment policies of India will also be analysed.