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Multinationals and Foreign Direct Investment in India and China

In: Multinationals and Foreign Investment in Economic Development

Author

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  • Subrata Gupta

    (Calcutta University)

Abstract

This chapter seeks to focus on the role of foreign direct investment (FDI) in the economy since economic liberalization in 1991, and contends that the inflows of FDI so far in India have been disappointingly low. After considering a short historical perspective of India’s policy towards FDI, this chapter considers the structure and industrial breakdown of the inflows of FDI. An important element in the published discussion of the impact of FDI on the Indian economy is a comparison with China. China’s success in absorbing and utilizing FDI inflows in the post-reform period since 1978 has been contrasted with the corresponding failure of India: given its potential, India has attracted much less FDI than it should have attracted. While the Indian record can be explained in part as the outcome of certain mistaken policy prescriptions, it is amazing how a communist country such as China could free itself from its dogmatic barriers and attract FDI to such benefit.

Suggested Citation

  • Subrata Gupta, 2005. "Multinationals and Foreign Direct Investment in India and China," International Economic Association Series, in: Edward M. Graham (ed.), Multinationals and Foreign Investment in Economic Development, chapter 10, pages 198-211, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-0-230-52295-4_10
    DOI: 10.1057/9780230522954_10
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    Cited by:

    1. Peter Nunnenkamp & Rudi Stracke, 2008. "Foreign Direct Investment In Post-Reform India: Likely To Work Wonders For Regional Development?," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 33(2), pages 55-84, December.
    2. Chakraborty, Chandana & Nunnenkamp, Peter, 2006. "Economic reforms, foreign direct investment and its economic effects in India," Kiel Working Papers 1272, Kiel Institute for the World Economy (IfW Kiel).
    3. Sumit Majumdar, 2009. "Technology transfer by foreign firms and the utilization of competencies within Indian industry," The Journal of Technology Transfer, Springer, vol. 34(1), pages 95-117, February.
    4. Chakraborty, Chandana & Nunnenkamp, Peter, 2008. "Economic Reforms, FDI, and Economic Growth in India: A Sector Level Analysis," World Development, Elsevier, vol. 36(7), pages 1192-1212, July.
    5. Sumit Majumdar, 2008. "Foreign exchange legislation transformation and enterprise demography in India," European Journal of Law and Economics, Springer, vol. 25(1), pages 39-56, February.

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