India’s Open-Economy Policy

It brings me great pleasure to note that my business partner’s book, India’s Open-Economy Policy:  Globalism, Rivalry, Continuity, has just been released by Routledge.  Congratulations, Jalal!

In the book, Dr. Alamgir argues that India chose to open its economy because of a wish to have a more visible role in the global economy, especially in relation to China, rather than to achieve specific economic results.   India’s politicians were able to maintain the open economy policy, even while it conflicted with much of the population’s desire for a closed economy, by positioning the policy as part of India’s empowerment on the international stage.  You can read excerpts of the book on Routledge’s site here.

The book is primarily an historical analysis, and doesn’t offer prescriptions, but I wonder if there aren’t lessons in here for our new political administration in the U.S.  For those of us who work with Indian businesses on a regular basis, it gives an interesting perspective into Indian politics, and the intensity of the desire for greater power and visibility on the world stage.