ABSTRACT
The empirical analysis in this book stops at year 2014. Not only has the economic growth in India been jarred by a series of reforms such as GST and the Insolvency and Bankruptcy code, but the globe too has witnessed some upheaval. Just as global demand began to recover in 2017 major economies, starting with the United States, began signalling the adoption of inward looking policies. The United States, for example, employed tariffs and sanctions on trade of specific commodities exported by China as well as India. The main point of contention for trade with India was the offer of export subsidy, such as that to export oriented units. To add to the unsettling developments, the UK initiated the process of moving out of the European Union. As a result, India’s exports, which have been shown to depend on global demand, now confront unstable markets. In the light of such developments the reader may be curious if the causation or impact as shown in this book still holds. As was shown in this book, the adjustment follows a process, and tracing some of the related trends allows us to comment on whether we still observe the results estimated for the period until 2014.
