Munich Personal RePEc Archive

Industrial Policy for Inclusive Growth: An Analysis of Experiences of India and China

Gupta, Avnesh Kumar (2014): Industrial Policy for Inclusive Growth: An Analysis of Experiences of India and China. Published in: International Journal of Economics, Law and Social Sciences , Vol. I, No. 03 (1 March 2014): pp. 90-96.

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Abstract

This paper discusses industrial policies of the two emerging economies of India and China. It begins with a clarification of the meaning of industrial policy because the term means different things to the different people. It also discusses industrial policy in the relation of globalization, including the development of multilateral trading rules. The chief arguments of the paper discuss the Indian and Chinese economies exploring, in particular, their past experience with variants of industrial policies. The similarities of the Chinese economic development model to past East Asian experience are explored while the contrasts of India's economic development model and the distinction between liberalization and reform are examined. These two major country cases form the basis for a consolidation of recent conceptual ideas where effective and successful industrial policy is viewed as part of a social contract creating a pathway to inclusive growth.

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