India Transformed
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National Innovation System, 508–37
National Maritime Development Programme (2005), 354
National Pension Scheme (NPS), 429
national power and security, quantifying, 194–97
National Power Index (NPI), 196
National Renewal Fund (NRF), 30–31, 476
National Rural Health Mission (NRHM), 386
National Securities Clearing Corporation (NSCCL), 421
National Securities Depository Limited (NSDL), 381, 421, 556
National Security Advisory Board (NSAB), 191, 194, 195
National Security Council (NSC), 196
National Skill Development Agency, 381
National Spot Exchange Limited scam, 430
National Stock Exchange (NSE), 88, 420, 421, 430, 442, 556, 597
National Telecommunications Policy (NTP, 1994), 332; (1999), 338
National Thermal Power Corporation (NTPC), 247, 465, 474
National Transport Development Policy Committee, 331, 355
National Warehousing Development Authority (NWDA), 293
Nationalization Act, 411, 416
nationalization of banks, 449
NatSteel, 588
Navayuga, 351
Nayan Chanda, xviii
Nayyar, Deepak, 25, 190
Nehru, Jawaharlal, 25–26, 39–40, 70, 86, 166, 172, 189, 192, 313, 502
Nelson, Richard, 513
Net Effective Exchange Rate (NEER), 130, 409
network and IT outsourcing, 573
New Economic Policy, 493, 502
New Industrial Policy (1990), 21, 23, 26
New Millennium Innovation Technology Leadership Initiative (NMITLI), 605
New Telecom Policy (1999), 571
New Textile Policy (1985), 486
New York Stock Exchange (NYSE), 615
Nihar, 583
Nimotuzumab, 601
Nirlon, 486, 492
NITI Aayog, 9, 53, 238–39, 240, 248
Nixon, Richard, xiv–xv, 169, 176
‘no first use’ policy, 198
NOCIL, 463, 493
Nokia, 572
Nominal Effective Exchange Rate (NEER), 409
non-agriculture tariff, 123–24
Non-Banking Financial Companies (NBFCs), 341, 414–15, 418
non-communicable diseases (NCDs), 385, 386, 399
non-financial-service-sector companies, 465–71, 474
non-performing assets (NPA), 219, 361, 364, 365, 411, 414
non-performing loans, 417
Non-Proliferation Treaty (NPT), 172
non-tariff measures, barriers, 99, 116, 124, 135–41, 148, 285
North Atlantic Financial Crisis (NAFC), 2008, 36, 241, 242, 543
North Atlantic Treaty Organization (NATO), 171
North–South divide, 172
Novo Nordisk, 603
Novozymes, 601
nuclear capability, nuclear weapons programme, 3, 173, 192
Nuclear Suppliers’ Group (NSG), 179
nuclear tests
1974, xv
1998, xvii, 167, 178, 415
sanctions and liberalization after, 197–99, 230
O’Hara, William T., 499
Obama, Barack, 100, 199
Observer Research Foundation, 555
Oil and Natural Gas Corporation (ONGC), 313, 315, 319, 465, 474
ONGC Videsh, 474
‘oil pool’ account, 314
oil prices, 6, 59, 183, 448
oil shock (1974), 92
One Belt One Road (OBOR) initiative, 180–81, 185
on-lending to states, 246
Open Access Regulations (OAR), 268, 270
open general licence (OGL), 136, 302
open-market system, 593
Oracle, 612
Ordinance-cum-Act (2000), 336
Organization for Economic Cooperation and Development (OECD), 99, 144, 146, 193, 561
organizational
development, 486
learning, 343
structures, 617
organized sector, 31, 62–64, 69, 84–85
formal employment, 62–63
Osmania University, 604
over-the-counter (OTC) and exchange-traded derivatives, 422, 429–31, 440, 442, 597
Pai, T.A., 225
Pakistan
complicity in cross-border terrorism, 167, 180
created Taliban, 170, 171
defence spending, 191
India wars, 1965 and 1971, 190
nuclear weapons, 171
Pakistan-Occupied Kashmir (POK), 181, 185
PAN numbers, 440
Panagariya, Arvind, xix, 17
Pande, V.C., 22
Paranjape, H.K., 15
Parekh, Deepak, 36
Parekh, H.T., 447, 455
Parekh, Ketan, 435, 441
parliament, accountability, 208–10
Parliamentary Standing Committee, 354
participatory notes (PNs), 433
‘passive infrastructure sharing’, 573
Patanjali Ayurved Limited, 577, 588, 589
Patel Roadways, 488
patent laws, 496–97, 592, 601–02
Patents Act, 1970, 601
Pavitt, Keith, 513, 514
Pay Commission
Fifth, 241
Sixth, 242
pension and insurance sectors, 428–29
Pension Fund Regulatory and Development Authority (PFRDA), 429, 441
PepsiCo India, 583
per capita income, 37, 61, 77, 89, 488, 494, 529, 546, 552
petroleum sector, petroleum products
market-driven pricing structure, 320
political economy of deregulation, 312–21
political pricing, 83
pharmaceutical industry, 487, 496–99, 531
and biotech industry towards global leadership, 591–608
phased manufacturing programme (PMP), 11–12
abolition, 302
Philippines, 9, 10, 33, 121, 295, 298, 478
physical infrastructure, 89
failure, difficulties in doing business, 478–80
Pichia pastoris, 600
Piramal Healthcare, 593, 606
Piramal, Gita, 36
Planning Commission, xviii, xix, 5, 7–10, 21, 22, 31, 35, 53, 230, 238, 242–43, 248, 363, 481; See also Niti Aayog
Pokhran nuclear explosion
accountability, 212–13
political interference and weak management, 212–13
skills and domain expertise, mismatch, 213
policy formulation and implementation, 66
political economy, xiii, 38, 252, 262, 270, 271, 482, 567
of higher education, 370, 377–78
of reforms, 6, 77–90, 137, 198
of petroleum sector deregulation, 312–21
of trade liberalization, 137
political executive and civil servant, relations, 210
political feudalism, 87
political management, 77, 80, 211
political parties, 218
accountability, 207–08
political will, 66, 206, 292, 295, 310, 476, 591
politicians’ compulsions, 85–86
pollution of air and natural water bodies, 65, 66, 314, 317
Poonawala, Cyrus, 487
Port Trust Act, 331
portfolio equity investment, 100, 437
ports, development, 354–55, 473
poverty reduction, 60, 61, 63
Power Development and Reform Programme, 334
Power Finance Corporation, 247
power generation, 34, 467, 473
Power Sector Development Fund, 248
power sector, 33, 83, 246–47, 267, 341–42
distribution companies, 85
distribution reforms, 268–70
electricity consumption, 479
Multi Year Tariff system, 268
private sector participation, 83, 334, 355–57
&
nbsp; reforms, 330, 334–35
tariff, commercially unviable, 83
Ultra Mega Power Projects, 357
Pradhan Mantri Gram Sadak Yojana (PMGSY), 256, 258, 270, 352
Preferential Trade Agreements (PTAs), 133
challenge, 82–84
controls, 592
reforms, 34, 83–84, 341, 342
stabilization, 285
Price, Derek de Solla, 513
private equity and venture capital, 423
private sector investments, role, 14, 34, 47, 48, 149, 219, 311, 556–60, 569. See also divestment, disinvestment or privatization
in agriculture, 278, 282, 294
in air-taxi service, 568
in banking, 449
competition, 82
decontrol, 50, 592
in digital platforms, 146
in education, higher education, 39, 373, 375, 378
employment, 81
in healthcare, growth, 385, 387
in infrastructure development, 219, 326–28, 330, 331, 333, 346–66
in insurance, 451
in petroleum industry, 314, 315, 316, 319
in power sector, 83, 334, 355–57
reforms and corporate profits, 87–88
in telecommunications, 259
private vehicle ownership, 219
product and service markets, 509
production process for infrastructure, 325
profit after tax (PAT), 461, 466, 473, 578
profitability, 467–68
PSP, Canada, 351
public consciousness, 66–67
public health sector, public-health services, 38, 64
changes, 386–87
Public Interest Litigation (PIL), 211, 213, 214
public sector
autonomy, 41
banks, 418
and economic reforms, 39
investments, 14
mismanagement, 82
policy, 27–28
reforms, 53
reservation, 73, 74
public sector enterprises (PSEs), 27, 48, 50, 319, 321, 346, 408, 436, 604
public services, 39
failure, 64
public transport, neglect, 88
public–private partnerships (PPPs), 103, 205, 253, 270
in biotechnology, 604
in higher education, 380
infrastructure development, 326–28, 333, 336–38, 340–41, 343, 347, 350–52, 354, 357, 359, 365
problems with, 360–63
Pune University, 308
Punjab Infrastructure Development Board, 350
purchaser–provider split (PPS), 396–97
purchasing power parity (PPP), 102, 376, 482, 542, 560
‘put-call’ parity identity, 437–38
Putin, Vladimir, 171
PwC India, 437
Quality Council of India (QCI), 140
quantitative controls over imports, 412
quantitative restrictions (QRs), 53, 73, 117, 124–25, 135, 136–37, 159, 160, 286, 288
quantity control, 135
Quest International, 599
Raheja, Chandru, 487
railways
computerized reservation system, 72
corporatization, 342
infrastructure, 358–59, 483
Raj Krishna, Professor, 7–8
Rakesh Mohan, 74, 211, 226, 328, 331, 350, 508
Ramachandran, S., 598
Ramdev, Baba, 589
Ramesh, Jairam, 10, 23, 25–26, 50
Ramkrishna, G.V., 582
Ranbaxy, 593, 606
Rangarajan, C., 6, 34
Rangarajan Committee, 447
Rao, P.V. Narasimha, 4–6, 23, 33, 51, 73–74, 91, 166, 168–69, 190–92, 226, 234, 276, 320, 440, 459, 486, 493, 569, 578, 611
Rashtriya Madhyamik Shiksha Abhiyan, 372
Rashtriya Uchchtar Shiksha Abhiyan, 381
Reagan, Ronald, 4, 7
Real Effective Exchange Rate (REER), 130, 148, 409
real-estate and construction sector, 471–72, 473–74
ReaMetrix, 604
Reddy, Brahmananda, 239
Reddy, Jaganmohan, 86
Reddy, K.I. Varaprasad, 599
Reddy, Y.V. (Venugopal), 35
reforestation, 584
Regional Comprehensive Economic Partnership (RCEP), 100, 133, 177
regulatory uncertainty, 597
reinvigoration, 513
research and development (R & D), 509–10, 525–27, 531–32
highly concentrated, 510
import and export of technology and in-house R&D, 525–27
India as an outliner in spending, 510–12
an invigorated higher education system and an invigorated scientific research system, two sides of the same coin, 532–34
in industry, 515–20
lack of investment, 527–28
role of policy, 535
publicly funded research and industrial innovation, 512–13
Reliance Fresh Direct, 562
Reliance Industries Limited (RIL), 311, 315, 317, 318, 332, 351, 493, 499, 554, 555, 557
growth into a global-scale conglomerate, 557–60
Hazira petrochemical complex, 559
Jamnagar refinery, 558–59
Naroda plant, 72
Patalganga project, 72, 559–60
Reliance Infrastructure Ltd, 435
Reliance Natural Resources Ltd (RNRL), 435
Reliance Retail, 562
Renault, 307
research and development (R & D), 7, 41, 294–95, 574, 597–98, 602
reservations (affirmative action policies) in higher education, 374–75, 377
Reserve Bank of India (RBI), 5, 12, 34, 59, 73, 75, 101, 216, 221, 240, 244, 300–1, 341, 364, 409–13, 414, 415, 419, 421–22, 424, 427, 429, 431, 435, 438, 448, 450, 610–11
Negotiated Dealing System (NDS), 422
retrenchment and layoffs, 84
return on net worth (RONW), 468–70, 473
Right to Information Act, 204, 217
roads, road network, 352
Rodrik, Dani, 57
Rosenberg, Nathan, 513
Roy, Jayanta, 10, 19
Roy, Subrata, 443
Ruia, Nand Kishore, 489
Ruia, Shashikant, 489
rupee, devaluation/depreciation, 50, 73, 80–81, 129–31, 276, 303, 412, 446, 593
rural employment guarantee programme, 61
rural road infrastructure, 252, 256–57, 258–59
Russia
China, relations, 178, 182
services-manufacturing conundrum, 478
and the West relations, 182
SAARC University, 373
Saddam Hussein, 166
Sagar, Virenchee, 486
Sagarmala project, 355, 364
Sahara cases, 435
Sahdev, Kuldip, 228
Sahdev, Padma, 228
Saini, Shweta, 38
sales taxation system, 245
Sanitary and Phytosanitary (SPS) measures, 135, 136, 139–41
Sanofi, 603
SAP, 612, 617
Saradha chit fund scam, 435, 443
Sartorius, 604
Sarva Shiksha Abhiyan (SSA), 256, 258, 270, 271, 372
satisfactory underperformance, 491–92
Satyam case, 437
Sawhney, Dhruv, 226
Schaffer, Teresita and Howard, xix
Schools of Planning and Architecture (SPAs), 373
Schwab, Klaus, 227
Securities and Contract (Regulation) Act, 429
Securities and Exchange Board of India (SEBI), 75, 204, 419, 420, 431, 433, 434, 435, 436, 438, 441–43, 556, 582, 596; Act (1992), 420, 441, 443
Technical Advisory Committee, 442
Securities Appellate Tribunal (SAT), 443
Securities Contract (Regulation) Act, 2007, 420, 440
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SAR
FAESI) Act (2002), 426, 428
Seddon, Jessica, 34
Sen, Amartya, 64
Sengupta, Arjun, 16
Serum Institute, 487
Service Level Agreements (SLAs), 571
service sector, 36, 142–44, 306, 530, 574
service tax, 238, 245
services-manufacturing conundrum, 477–78
Seshan, T.N., 17–18, 19, 22
Shah, Jignesh, 430, 441
Shah, Rajen, 463
Shah, Viren, 463
Shanghai Cooperation Organization (SCO), 185
Shanghvi, Dilip, 489
Shanghvi, Shantilal, 489
Shantha Biotetechnics, 599, 604
Shapoorji Pallonji Group, 487
Sharif, Nawaz, xvii–xviii
Shaw, Kiran Mazumdar, 37, 489
Shenoy, P.V., 286
Shining India campaign, 87
Shukla, S.P., 25
SHV, 317
Shyam Saran, xiii, 35, 228
Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), 475
sick enterprises, 30
Singapore, 100, 177, 192, 226–27, 228, 232, 233, 301, 483, 504, 510, 588
Singapore Airlines, 587
Singh, Ajit, 18, 19, 20, 21
Singh, Arjun, 25–26
Singh, Charan, 18
Singh, Harsha Vardhana, xi, xix, 35, 36, 38
Singh, N.K., 34, 226, 229, 249, 335
Singh, V.P., 18, 19, 22, 276
Single-Window Clearance Mechanism (SWCM), 253, 262, 263–67, 270
Sinha, Yashwant, 333
‘Skill India’ campaign, skill-development initiative, 234, 307–8, 381, 559
small and medium enterprises (SMEs), 21, 133, 140, 147, 562, 597
Small Business Innovation Research Initiative (SBIRI), 605
Small Industries Development Bank of India (SIDBI), 598
small-scale industry reservation, 31–32
Smart Cities, 234, 383
smartphones, 542, 544, 610
Snapdragon, 487
social media, 218
social-safety net, 89
socio-economic divide, 564
software industry in India, 527, 531
Software Technology Parks (STPs), 614
soil erosion, 65, 66
Sondhi, Mantosh, 225
South Asian Free Trade Area (SAFTA), 170
South Commission, 7, 9
South Korea, 100, 192, 301, 509, 510
economic growth, 89, 93
industrialization, 526
manufacturing, 530
R & D expenditure, 522
services–manufacturing conundrum, 477
technical capability, 523, 525
transformation, 520–24
Soviet Union, 193
invasion of Afghanistan, xvi
disintegration, xvi, xvii, 3, 4, 7, 93, 165, 169, 171, 175, 176, 188, 192, 568
special additional duty (SAD) of customs, 128
Special Drawing Rights (SDRs), 108
Special Economic Zones (SEZs) Act (2005), 606
spot and exchange-traded derivatives, 419
Srei, 351
SRF, 537
Sri Lanka, 574