About the Book
This book looks at the debates on global value chains
(GVCs) and free trade agreements (FTAs) as springboards
for industrial development in developing countries,
especially India. It connects the outcomes in GVC-led
industrial restructuring and upgrading to industrial
policy choices in trade and FDI liberalisation, in
particular those through FTAs.
With the share of manufacturing in GDP stagnant at
around 15–16% since the 1980s, India's policymakers
have pinned their hopes on greater integration into
GVCs to revitalise the manufacturing sector. The multiple
FTAs the country has signed over the last few years,
specifically the ones with the Association of Southeast
Asian Nations (ASEAN), South Korea, Malaysia and Japan
have been sought to be rationalised using the same
argument. The book argues that failing to factor in
the industrial policy causalities involved in sustainable
indigenous technology development, structural barriers
to the entry into GVCs, the assessments of the available
evidence on the adverse impact of trade and FDI liberalisation
as well as existing FTAs on firm-level incentives
for undertaking domestic production, and the industrial
policy constraints imposed by FTAs can prove costly
for the trajectories of developing country economies,
including India.
Rich in data, this book will be useful to scholars
and researchers of development economics, economics
in general, development studies and public policy
as well as government bodies, industry experts and
policymakers.
Table of Contents
List of Figures and Tables
Acknowledgements
Chapter 1. Introduction
Chapter 2. Industrial Policy: Evolution of the Discourse
Chapter 3. Global Value Chains: Heightening the Industrial
Policy Imperative
Chapter 4. Liberalisation Sans Industrial Policy:
The Experience of Indian Electronics Industry
Chapter 5. Industrial Policy Constraints in Indian
FTAs
Chapter 6. Conclusion
Bibliography
Index
Reviews
'Ably examining the interactions between trade and
foreign investment "liberalisation" and
other industrial policies, and their implications
for Indian industrial restructuring, Smitha Francis
critically considers Indian participation in global
value chains, especially electronics, and with plurilateral
"free trade" agreements.'
Jomo Kwame Sundaram, former UN Assistant Secretary
General for Economic Development
'India's economy is delicately poised in the context
of today's globalisation. Smitha Francis's theme that
India urgently needs firm-level industrial policy
is well argued, convincing, timely and relevant beyond
India.'
Pasuk Phongpaichit, Professor Emeritus in Political
Economy, Chulalongkorn University, Bangkok, Thailand
'A path-breaking book, which undertakes a critical
look at the interactions between trade, FDI, global
value chains and manufacturing sector in India. A
highly recommended book for researchers and policymakers.'
Abhijit Das, Professor and Head, Centre for WTO Studies,
New Delhi, India
'Global production networks have changed forever the
way in which cross-border transactions in goods and
services are conducted. Smitha Francis has provided
a remarkable account of this complex phenomenon with
considerable deftness. This volume is a must-read
for all students of international economics.'
Biswajit Dhar, Professor, Centre for Economic Studies
and Planning, Jawaharlal Nehru University, New Delhi,
India.
About the Author
Smitha Francis is Consultant with the Institute for
Studies in Industrial Development (ISID), New Delhi,
India. Her research interests cover the interfaces
between different processes of trade and FDI liberalisation,
industrial policy, digital transformations, and manufacturing
sector development. Previously, she has worked at
Economic Research Foundation (ERF), New Delhi, the
Secretariat for International Development Economics
Associates (IDEAs) and Research and Information Systems
for Developing Countries (RIS), New Delhi. She has
also served as a Visiting Faculty member at the South
Asian University, New Delhi and Ambedkar University
Delhi. In addition, she has been a consultant in projects
sponsored by the Department of Commerce, Government
of India; Indian Council for Social Science Research
(ICSSR); Rosa Luxemburg Foundation, Brussels; Centre
for WTO Studies, New Delhi; Frederick S. Pardee Centre
for the Study of the Longer-Range Future, Boston University;
UN OHCHR and UNICEF.
For more details, visit:
https://www.routledge.com/Industrial-Policy-Challenges-for-India-Global-Value-Chains-and-Free-Trade/Francis/p/book/9780815366058
