The Georgetown Center for Business and Public Policy invites you to
The Elephant Stumbles?
Are India's trade policies hurting its growth prospects?
a Georgetown on the Hill event
Swaminathan Aiyar, Research Fellow, Cato Institute
Rob Atkinson, President, Information Technology and Innovation Foundation
Rick Rossow, Director for South Asia, McLarty Associates
J. Bradford Jensen, Professor, Georgetown University
Chris Moore, Senior Director for International Business Policy, National Association of Manufacturers (NAM)
Moderator: Bob Vastine, Senior Industry Fellow, the Georgetown Center for Business and Public Policy
After decades of fast growth stemming from liberalization in the early '90's, India's economy has slowed from a 10 year average of about 8% to 5%. Its trade deficit has ballooned to $191 billion. The value of the rupee has tumbled, and foreign investment has fallen 40%.
Struggling to inject new life into its manufacturing sector and create jobs, India has adopted protectionist policies that require foreign firms to source inputs locally. At the same time it is blocking a consensus in the WTO to make ports more efficient, and refuses to participate in the international services agreement (TISA) being negotiated by countries representing more than three quarters of world trade in services.
What is the role of open trade and investment policies in spurring renewal of its economic growth?