For about 40 years (1950-90), foreign trade of India suffered from strict bureaucratic and discretionary controls. Similarly, foreign exchange transactions were tightly controlled by the Government and the Reserve Bank of India (RBI). From Independence in 1947 till mid-1990s, India, with some exceptions, always faced deficit in its balance of payments, i.e. value of imports always exceeded the value of exports. Exports remained relatively sluggish owing to lack of exportable surplus, competition in the international market, inflation at home, and increasing protectionist policies of the developed countries. Beginning 1991, the Government of India introduced a series of reforms to liberalise and globalise the Indian economy. Indias approach to openness has been cautious, contingent on achieving certain preconditions to ensure an orderly process of liberalisation and ensuring macroeconomic stability. The broad approach to reforms in the foreign trade sector was laid out in the Report of the High Level Committee on Balance of Payments (Chairman: C. Rangarajan), 1993. The major trade policy changes in the post-1991 period have included (a) simplification of procedures, (b) removal of quantitative restrictions, (c) substantial reduction in the tariff rates, (d) moving towards current account convertibility, (e) liberal inflows of private capital, (f) shift towards market-determined exchange rate, (g) gradual liberalisation of restrictions on outflows, (h) focus on export growth and (i) attracting non-debt creating capital flows. In recognition of the growing importance of foreign trade in the Indian economy, this book provides a comprehensive description and analysis of post-Independence developments in Indias foreign trade and allied sectors with focus on post-1991 period. The book contains 19 chapters which are categorized into the following six theme parts: Part I: International Trade: Theoretical Settings and Emerging Pattern. Part II: Indias Foreign Trade Policy and Developments. Part III: Indias Exports, Imports, Customs Tariff, and Special Economic Zones (SEZs). Part IV: Exchange Rate and Convertibility. Part V: Foreign Debt, Aid and Investment. Part VI: WTO and Indias Regional Trade Agreements. Besides, there are the following 3 appendices: Appendix 1: Text of the Foreign Trade Policy (FTP), August 27, 2009 to March 31, 2014. Appendix 2: Group of Twenty (G-20). Appendix 3: E-commerce. Other features of the book include Year-wise Review of Developments in Indias Foreign Trade: 1947-48 to 2011-12 Glossary of Trade-related Terms Time-series Statistics of Indias Foreign Trade Bibliography Index.

In today's ever changing environment, digital marketing has become the fastest means to advertise a business and create a brand value online. It has proved to be the most effective method to increase the reach of the business and generate potential leads. Hence, the book is an attempt to explain the concept and digital marketing tools lucidly to help students gain in-depth knowledge of digital marketing and develop critical thinking towards the subject. Comprising 11 chapters, judiciously divided into five units, the book covers a full gamut of digital marketing from its introduction, opportunities and challenges, digital penetration in the Indian market, digital marketing mix, STP model, CRM in the digital world, role of Internet marketing, designing websites, traffic building, online advertising and direct marketing to the digital marketing tools to execute appropriate strategy. Besides, the text also explains popular types of interactive marketing concepts and the ethical and legal issues in India in relation to digital marketing. Primarily designed to cater to the needs of undergraduate students of commerce, as per the CBCS Scheme, the book will also be of immense value to the students of business administration. Key Features Interesting facts to inspire students' curiosity. Real-life case studies for easy grasping of the subject. Chapter-end summary for quick recapitulation. Review questions for practice. Glossary to assist students to understand commonly used terms. Multiple Choice Questions (MCQs) for self-assessment and evaluation.

The resource base of a country consists of human resources, non-renewable resources which are an endowment of nature and whose total size gets depleted with time and renewable resources which can be continuously created and whose base can be expanded through human efforts. Economic planning is concerned with the effective and optimal utilisation of the potential resources of an economy. This is particularly so in the context of underdeveloped countries which are striving to raise the standard of living of the masses. In fact, planning is a process aiming not merely at the best utilisation of material resources but also at the development of human faculties and institutional framework suitable to the needs and aspirations of the people. The establishment of Planning Commission in 1950 heralded a new era in the economic history of India. It makes an assessment of the material, capital and human resources of the country, including technical personnel, and investigates the possibilities of augmenting such of these resources as are found to be deficient in relation to the nation's requirements. It, then, formulates a Plan for the most effective and balanced utilisation of the country's resources. India's First Five Year Plan was launched on April 1, 1951. Since then, ten Five Year Plans have been completed and the Eleventh Five Year Plan (2007-08 to 2011-12) is underway. Part I of the book deals with human and natural resources of India, principles of economic planning, institutional framework of economic planning in India, and assessment of India's experience with economic planning. Part II provides summary of each Five Year Plan (First Plan to Eleventh Plan) under the following 13 common theme headings: Plan at a Glance; Agriculture and Rural Development; Industry and Infrastructure; Mineral Resources; Electricity and Other Renewable Energy Sources; Urban Development and Housing; Transport and Communications; Employment and Labour Welfare; Health, Family Planning and Nutrition; Education, Training and Skill Formation; Science and Technology; Social Welfare; and, Balanced Regional Development. Part III contains sector-wise time-series statistics on the Indian economy from 1950-51 to 2009-10. Part IV of the book comprises glossary of economic planning and a list of English equivalents of select Hindi terms used in Plan Documents.

"After Independence in 1947, India followed, for about 30 years (1950-80), a development pattern which laid strong emphasis on centralised planning, government ownership of basic and key industries, excessive regulation and control of private enterprise, trade protectionism through tariff and non-tariff barriers and a cautious and selective approach towards foreign capital. It was a quota, permit and license regime all the way. The establishment of WTO in 1995 was the foremost achievement. This book explains the key reform measures undertaken in various sectors of the Indian economy since 1991 in the context of the establishment of WTO. It examines the rationale, contents, and impact of economic reforms and puts in perspective the emerging lessons for the future. "

"The poor performance of PSEs started to be reflected in low profits and in some cases mounting losses year after year. Hence, privatisation of public sector enterprises is a part of the economic reforms process initiated in 1991. In dismantling the public sector, India has adopted a gradualist approach. The slow pace of privatisation has disappointed the public in general. This book traces the philosophy and growth of PSEs in India and describes recent policy measures for their privatisation. Hurdles being faced by the Government in this gigantic task are also set forth. "

"While the Indian economy has performed well in terms of growth rate of GDP in the recent past, its performance in the form of human development indicators has been unsatisfactory. Social sectors like health, family welfare, education, employment, women empowerment, and rural infrastructure have lagged behind in the race for better standard of living. This book examines various issues associated with social uplift of Indian masses. It explains various schemes and programmes of the government to improve the living conditions of the disadvantaged groups of Indian society and comments on their implementation. "

Prior to the launching of economic reforms in 1991, foreign trade of India suffered from strict bureaucratic controls and discretionary regulations. With a view to simplify procedures and reduce controls, the Government made a Statement on Trade Policy in Parliament on August 13, 1991, ushering a new era in the foreign trade policy of India. Instead of controls and regulations, the focus shifted to promotion and development of foreign trade. The present book provides a comprehensive view of the changes in India's foreign trade during the post-liberalisation period. It also traces policy developments with regard to direct foreign investment during the reforms period.

This book provides a detailed description of the evolution and the present working of EU with a view to understand its impact on India's foreign trade. More precisely, the book focuses on the impact of developments in the EU on India's exports to it.

Since the early 1990s, world economies have witnessed a paradigm shift towards market-oriented economic policies, as well as a careful dismantling of obstacles in international trade. This has helped developing countries like India gain access to world markets, modern technologies, and collaborations. This has also given these countries a window to the developed world, helping them to understand the significant role of foreign trade as an effective instrument of economic growth and employment generation. Beginning in 1991, the government of India has introduced a series of reforms to liberalize and globalize the Indian economy. Reforms in the external sector have helped to integrate India into the world economy. In recognition of the growing importance of foreign trade in the Indian economy, this book provides a comprehensive description and analysis of post-independence developments in India's foreign trade and allied sectors with focus on the post-1991 period. The book covers: changing patterns of international trade pre- and post-independence developments in India's foreign trade compositional and directional shifts in Indian exports and imports rationalization, simplification, and moderation of the customs tariff regime capital account convertibility and flows exchange rate determination and management foreign exchange reserves external debt and aid foreign direct investment globalization and international trade the global economic crisis and international trade India's Regional Trade Agreements and the World Trade Organization and India's foreign trade. The book also contains: an annual review of developments in India's foreign trade from 1947-48 to 2008-09, appendices containing relevant information on India's foreign trade, a glossary of trade-related terms, and time-series statistics of India's foreign trade.