HANOI NATIONAL UNIVERSITY FACULTY OF ECONOMICS
- - - - - -
TRAN THUY PHUONG
ECONOMIC REFORMS IN INDIA AND LESSONS FOR VIETNAM
MASTER'S THESIS IN POLITICAL ECONOMY
HANOI - 2005
HANOI NATIONAL UNIVERSITY FACULTY OF ECONOMICS
- - - - - -
TRAN THUY PHUONG
ECONOMIC REFORMS IN INDIA
AND LESSONS FOR VIETNAM
MASTER'S THESIS IN POLITICAL ECONOMY
Major: Political Economy Code: 5.02.01
Scientific supervisor : Associate Professor, Dr. DO DUC DINH
Hanoi - 2005
LIST OF ABBREVIATIONS
ADB Asian Development Bank - Asian Development Bank AFTA ASEAN Free Trade Area - Free Trade Area
ASEAN
ASEAN Association of SouthEast Asian Nations - Association of Southeast Asian Nations
BIMST-EC Bangladesh, India, Myanmar, SriLanka, Thailand - Economic Cooperation - Bay of Bengal Economic Cooperation Organization
DAEs Dynamic Asian Economies - Dynamic Asian Economies
EOUs Export Oriented Units - Export Oriented Units
EPIPs Export Promotion Industrial Parks - Export Promotion Industrial Parks
EPZs Export Proccessing Zones - EU European Union - European Union
FDI Foreign Direct Investment - Foreign Direct Investment FTA Free Trade Agreement - Free Trade Agreement FTZs Free Trade Zones - Free Trade Zones
GDP Gross Domestic Product - Gross Domestic Product IT Information Technology - Information Technology
NAFTA North America Free Trade Agreement - North America Free Trade Agreement
NASSCOM National Association of Software and Service Companies - National Association of Software and Service Companies of India
NIEs Newly Industrialized Economies - Newly Industrialized Economies
R&D Research and Development - Research and Development SAARC South Asia Association for Regional Cooperation - Association
South Asian regional cooperation
SEZs Special Economic Zones - Special Economic Zones
STP Software Technology Park - Software Technology Park TNC Transnational Company - Transnational Company
UNCTAD United Nations Conference on Trade and Development - United Nations Conference on Trade and Development.
WB World Bank - World Bank
WTO World Trade Organization - Socialist Republic of Vietnam World Trade Organization
E-commerce E-commerce
Trade Promotion Trade Promotion
INDEX
1 | ||
CHAPTER 1: BASIC PREMISES OF ECONOMIC REFORMS IN INDIA | 5 | |
1.1. The process of forming development views in the | water | 5 |
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Developing - Rationale for Indian Economic Reform
1.1.1. Overview of the formation process 5
1.1.2. Economic ideas and theories related to economic reforms in India
1.1.3. The process of selecting India's development theory 16
1.2. Practical basis of economic reform process in India 18
1.2.1. Domestic economic situation before the 18th reform
1.2.2. The international economic situation prompted India to carry out reforms 27
1.3 The need to carry out economic reform - 32
The shift towards economic liberalization and opening up in India
CONCLUSION OF CHAPTER 136
CHAPTER 2: ECONOMIC REFORM PROCESS IN INDIA 38
DEGREE
2.1. Basic content of economic reform process in India 38
2.1.1. Reforming the ownership regime and economic regulation methods 38
2.1.2. Industry structure selection process 41
2.1.3. Foreign economic policy reform 62
2.2. Assessment of economic reform progress in India 77
2.2.1. Growth achievements in the context of international integration 77
2.2.2. Overview of policy choices, strategies and prospects for economic development in India
CONCLUSION OF CHAPTER 2 86
CHAPTER 3: APPLYING EXPERIENCES 91
INDIA'S CONTRIBUTION TO ACCELERATE ECONOMIC RENEWAL IN VIETNAM
3.1. Overview of the economic innovation process in Vietnam 91
3.1.1. Innovation of ownership regime and economic components 91
3.1.2. Innovation of economic mechanisms and policies 93
3.1.3. The development process of manufacturing industries 95
3.1.4. Import-export activities and international economic integration 98
3.1.5. Foreign investment activities 100
3.2. Experiences that Vietnam can learn from India's economic reforms
3.2.1. Experience in foreign trade reform in the process of industrialization of the country
3.2.2. Experience in developing export-oriented software technology
101
101
104
3.2.3. Experience in attracting foreign direct investment 106
3.3. Orientation for applying lessons learned for Vietnam
3.3.1. Strategic orientation for developing Vietnam's foreign trade in the process of international economic integration
108
109
3.3.2. Orientation of software technology development in the process of industrialization and modernization of the country
3.3.3. Orientation for activities to attract foreign direct investment, promote economic growth.
115
119
CHAPTER 3 CONCLUSION 123
CONCLUDE127
LIST OF REFERENCES130
1. The necessity of the topic
INTRODUCTION
The Republic of India is one of the cradles of human civilization, with an area of nearly 3.3 million km 2 , spread over most of the South Asian subcontinent; has a population of more than one billion people, expected to reach nearly 1.2 billion by 2020. With the current population growth rate, after 50 years, India will become the country with the largest population in the world with about 1.5 billion people, surpassing China. India has 28 states and 7 territories [48] with many ethnicities, religions, languages, and classes.
When it gained independence 50 years ago, its leaders set the task of building the country into an independent and prosperous nation on the basis of self-reliance. Before carrying out the reforms in 1991, India successively carried out 7 5-year plans (from 1951 to 1990); with strategic priorities on science and technology, agriculture, industry, and infrastructure for the industrialization process depending on each different plan.
After a long period of developing an independent economy following a self-reliant industrialization model, India has achieved certain successes but also encountered many difficulties. Especially in the late 80s and early 90s, the economy fell into a serious crisis, leading to a decline in GDP growth, many industries facing difficulties, high inflation, and a decline in people's lives. It can be said that before 1990, India tried very hard to implement adjustment measures to revive the economy but still did not achieve the desired results.
Therefore, in July 1991, the Indian Government made a major shift in its socio-economic development policy, carrying out comprehensive economic reforms; adjusting the macro-economy and economic structure from centralization to