The contents of this volume add useful dimensions to the ongoing debate on various issues relating to India's transition to the new economic policy regime. While some of the contributions deal specifically with the Indian scenario, others provide an overall context for the debate. Section I deals with the issue of industrialisation and employment especially in the context of increasing importance of the services sector and deceleration of the agricultural sector. Section II examines the historical context of the development of corporate sector in India as well as the present ownership pattern of the sector which has direct implications for industrialisation and distributional aspects respectively.This section also deals with the developments in the banking sector. Section III focuses on the role of foreign direct investment in development and innovation, the performance of different constituents of the corporate sector in terms of exports and India's preparedness for a free trade agreement with China. Section IV is about globalisation issues in general and India's experience in this context in particular. Section V focuses on issues relating to poverty and inequality.
Section VI covers a different set of issues namely, political and cultural dimensions of the new era.
S. R. Hashim is the director of the Institute for Studies in Industrial Development in New Delhi and the coauthor of Capital-Output Relations in Indian Industries. K. S. Chalapati Rao, K. V. K. Ranganathan, and M. R. Murthy are professors at the Institute for Studies in Industrial Development in New Delhi.