Industrial policy and planning, 1947-91 : tendencies, interpretations and issues

This important and comprehensive study analyses India's industrial policy from inde pendence till 1991 in terms of the realisation of the stated objectives. These are rapid growth, diversification, promotion of small industries, a reduction in regional imba lances, and restricting the concentration of economic power in private hands. The au thor also discusses the factors that may have furthered these objectives and draws atten tion to the policy issues involved.

Based on his overall assessment of the country's industrial policy, Professor San desara finds that, on balance, the perfor mance of India's industrial economy has been satisfactory. While not denying the positive role of the government's specific policies relating to social objectives, the au thor argues that a significant role may have been played by the process of growth itself in the achievement of these goals.

On the basis of his analysis and findings, Professor Sandesara advocates continuing and strengthening the policies and measures that have accounted for the rapid growth in the recent past. In particular, he suggests in creasing investments in the infrastructure, improving the allocative efficiency in that sector and in the manufacturing sector, and proceeding with policies aimed at liberalising the economy tempered with greater state support to the newer branches of manufac ture coupled with diminishing support to the older ones.

Based on the most recent statistics on India's industrialisation, this analytic and comprehensive study will interest all those concerned with the industrial and economic development of India. It will also serve as a text for courses dealing with industrial economics and economic development in India.