Introduction

Summary

The purpose of this study is to analyse India's export performance and policies in the 1960s. Several reasons prompted the choice of the period 1960 to 1970. The pioneering work undertaken by Manmohan Singh on India's export trends in the 1950s is the last comprehensive analysis of the subject. That was a decade in which export earnings were virtually stagnant, and the export sector of the economy was largely neglected. However, a great deal has happened since then. The year 1960 provided a turning point and there was a reversal of policy characterised by concerted efforts to promote exports. Although this led only to a moderate growth in exports, and India continued to experience difficulties in her attempts to mobilise the external resources required to finance the development process, there was a marked change in the composition of exports. A systematic empirical analysis of the causal factors underlying India's export performance in the 1960s would not only help in the evaluation of past policies, but would also suggest guidelines for the future.

The study is divided into three parts. Part One provides the background. Chapter 1 outlines the approach for analytical purposes and identifies the possible factors that could have affected export growth. Chapter 2 highlights the main features of India's export performance during the period under review.

The second part (Chapters 3 to 9) attempts an empirical analysis by adopting a micro economic approach to the problem, and considers the performance of individual export industries.