EXPORT PROMOTION AND IMPORT SUBSTITUTION EFFORTS OF GOVERNMENT OF INDIA IN THE MANUFACTURING SECTOR SINCE 2011 TILL 2020: A LITERATURE REVIEW

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1Dilip Shevare , 2Dr Atreyee Chakraborty
1Research scholar, 2Research Guide
1,2Gokhale Institute of Politics and Economics [Deemed to be University], Pune, India.

Vol 17, No 09 ( 2022 )   |  DOI: 10.5281/zenodo.7152190   |   Licensing: CC 4.0   |   Pg no:1408-1413  |   Published on: 30-09-2022

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Abstract
A research entitled “Export promotion and import substitution efforts of Government of India in the Manufacturing sector since 2011 till 2020” was undertaken with the objective of evaluating if the efforts of Government of India in the last 10 years have to promote exports and substitute imports in the manufacturing sector. A look at the Indian trade deficit for the last ten years shows that India’s trade balance has always been below the zero line, meaning, the imports have been more than the exports. In very recent times the trade deficit has touched record new lows up to USD 30 billion. While we are proudly celebrating 75th anniversary of India’s independence, the foreign trade deficit figures shows that India is still heavily dependent on imports which are not offset by commensurate exports. This paper presents review of select literature related to the topic.

Keywords:
Export promotion, Import substitution, Manufacturing sector, Literature review

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