India's economic reforms

Over the past two years, the Government of India has taken a number of initiatives aimed at basic economic restructuring and reform, with the objective of putting the Indian economy on a sustainable path of high growth. I had invited Professor Jagdish Bhagwati and Professor T.N. Srinivasan, two of our most outstanding and internationally recognised academicians, to study the reforms underway and to make recommendations for future action.

2 Professor Bhagwati and Professor Srinivasan have contributed extensively to the analysis of India's economic problems and maintained an abiding interest in Indian economic development. Their report, prepared in an honorary capacity, has been produced at short notice. I would like to take this opportunity to express my deep appreciation for their efforts, which truly constitute a labour of love.

3. The report is being published in the interest of public information and debate on our ongoing economic reforms. I have no doubt that it will contribute to a wider awareness of the urgent issues which need to be addressed as we proceed further.