The book examines the trade liberalization measures, which were
initiated in India during 1991 and which focused on manufacturing
industries. This industry was considered because of its strong
inter-sectoral links and its capacity to stimulate the growth of
other sectors. The resulting liberal trade policies, involving a
reduction in trade barriers and inflows of FDI, capital and
technologies, were adopted to increase the manufacturing output.
However, these measures were most beneficial to those industries
whose products have greater demand in developed countries. Against
this backdrop, the book breaks down the overall effect of
trade-induced manufacturing growth into scale, composition and
technique effects to discuss the impact on environmental
externality. In addition to manufacturing activity, it also
investigates the effect of other factors that improve with economic
growth and examines the extent to which India's trade-led economic
growth allows production activities to move to cleaner technologies
and whether India has achieved its economic growth by specializing
in pollution-intensive (low technology) industries. The book also
estimates the impact of these environmental externalities on
society's wellbeing.
General
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