About Book:
The relaxation of licensing and other market entry regulations since July 1991 has given a visible impetus to the process of economic liberalization. The Central Government has promulgated a liberal licensing policy, allowed access to foreign technology, and has even liberalized imports so that the required industrial goal can be achieved at optimum cost and quality. Many Indian companies took maximum advantage of the opportunity created by the liberalized economic policies and opted for diversification, collaboration, and product improvement. To globalize the Indian economy, the emphasis was shifted from production to continuous innovation and to improving the product and service quality standards. In fact, with the relatively free flow of technology from abroad, the differentiation on the ‘product quality’ front has become progressively less pronounced and instead service has become the major differentiation parameter. In other words, the industrial revolution that is silently taking place has changed our base from production- oriented economy to market-oriented economy.
A global approach cannot ignore the cultural differences across markets. Product adaptation requires continuous upgradation of technology and huge investments in brands. Foreign Direct Investment (FDI) and technology are both vital to a faster growth rate and gaining competitiveness globally.
The GDP growth in the first-half of 2006-2007 averaged 9.1 per cent with manufacturing at 11 per cent and services at 12 per cent. The Government is set to earmark major investment for rural infrastructure in irrigation, drinking water and sanitation, roads, electrification, telecommunication, and housing. The benefits of Information and Communication Technology (ICT) must reach all parts of the country. Creating ICT infrastructure and developing knowledge products to promote self-reliance is necessary to achieve a competitive edge globally in order to reap the benefits of e-governance, tele-education, tele-medicine, e-commerce and e-judiciary initiatives. This, Dr Abdul Kalam felt would work as a reverse mechanism-urban to rural-thereby reducing the pressure on the urban system
