Extensive economic reforms have been carried out in India since 1991. In industry and
trade, among the important steps taken are: abolition of import licensing except for few
products, reduction in tariff rates, abolition of industrial licensing, liberalization of
restrictions on foreign capital. It has been claimed that economic performance has improved
after reforms and that it has been so because of reforms.
We will focus on the manufacturing sector. We will examine not only the manufacturing
growth rates at aggregated and disaggregated levels. We will also analyse some aspects of the
performance of the organized corporate sector in India to throw some light on the quality of
the growth process.