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Globalization and Standards - Issues and Challenges in Indian Business (Hardcover, 2014 ed.)
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Globalization and Standards - Issues and Challenges in Indian Business (Hardcover, 2014 ed.)
Series: India Studies in Business and Economics
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The changes following more than two decades of economic reforms and
globalization of the Indian economy - at state, corporate sector,
and consumer level - raise interesting questions on the ways in
which the stakeholders will continue to engage on the world stage,
politically, socially and economically. One key feature of global
trade over this period has been the growing importance of not only
product standards but, importantly, labor, environmental, food
safety and social standards. Being essentially a non-tariff
barrier,standards have often become critical to market access and
essential to sustained competitiveness. This has a clear impact on
the manner in which both global and Indian business is conducted
now and in the future. It also underlines the need for a new area
of enquiry that addresses the following questions: How are the
Indian public and private actors - the state, domestic firms, local
consumers and society - influencing and being influenced by such
standards? Do standards really matter in an overwhelmingly informal
production sphere, with consumers deeply segmented on the basis of
a highly skewed distribution of income and with the rural
population becoming further marginalized? We have limited knowledge
about the challenges faced and strategies pursued by these key
domestic actors, both public and private. How have they been able
to drive these processes and what are their implications for larger
concerns with inequalities and the conditions of the poor? How does
the omnipresent informality influence compliance, encourage
multiple standards and affect the chances of addressing
institutional dysfunctionality? What role does regulation play?
These are some of the issues dealt with in the book, which has
chapters focusing on aspects of specific sectors such as
microfinance, pharmaceuticals, automobiles, tea trading, the role
of the state and changing consumer influence. We have limited
knowledge about the challenges faced and strategies pursued by
these key domestic actors, both public and private. How have been
they able to drive these processes and what are the consequences of
these changes for the Indian economy, other emergent economies and
for the rest of the developing world? In particular, what are their
implications for the wider Indian society, especially on concerns
with informality, inequalities and the conditions of the poor? How
does informality in its omnipresent form influence compliance,
encourage multiple standards and chances of addressing
institutional dysfunctionality? What role does regulation play?
These are some of the issues dealt within the book wherein chapters
focus on aspects of specific sectors, trading, role of the state
and changing influence of the consumer.
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