Fig.5.3: Impact of Manufacturing Sector Liberalisation on Sectoral Trade Balance Save Gv Sas Dp i resco haven vei Neprasyrioauam iepeaseaao? seeniewasmaine Source (ee ae nama Fac § Sooo at Industr 2 oe, ong Service GDP eee rones (nsbilion) (etal | Target _ 2011-12 32.9 33 wei 349 | 40. mais 393) 3 2014-15, 414 45 2015-16 NA 47. Note: The exports als include those of jute, coir, handicrafts and handloom items Source: rtsIndia’s Toretgn trace Beet? e 1991 AND 2011: SPOT THE DIFFERENCE wa 21 GDP growth 53 (90 Fiscal deficit 94 a4 Current account deficit 3 2 WPI inflation 103 91 Public debt 646 7981970-71 1535 1634 1980-61 er 12580 1900-91 32553 43198-10645 2000-01 203871 23087327302 2008-07 sri779 40506 268727 2008-09 840755 13736533681 2009-10 45543 1369736 518202 zon. 12649 1980467 540016 2011-12 3024707 1651240 625533 India - Trade Share of GOP % Imports 2 0 Exports External Trade - Exports and Im|Industrial Policy, July 24, 1991 » The spread of industrialisation to backward areas of the country will be actively promoted through appropriate incentives, institutions and infrastructure investments. Foreign investment and technology collaboration will be welcomed to obtain higher technology, to increase exports and to expand the production base. Labour will be made an equal partner in progress and prosperity. Workers’ participation in management will be promoted. ath of liberalization + Relief for foreign investors + Devaluation of Indian rupees + New industrial Policy + New trade policy + Removal of import Restrictions + Liberalization of NRI remittances| + Freedom to import technology + Encouraging foreign tie-ups + MRTP relaxation +_ Privatization of public sector 5's Aariultural Exports Focused to Developing Counties smDevelosing = Developed SE ELLIESIPIE SI SS India’s Global share Factor India’s share (pereentage) ‘Area 247 ‘Arable land 11.24 Population 16.78 GNP 1.50 ‘GNP ai purchasing power 5.45 parity FDI 08 Merchandise exports 07 Merchandise imports 08 Service exports 12 ‘Service imports 14