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Parthapratim Pal
Parthapratim Pal is Professor at the Indian Institute of Management (IIM) Calcutta. He received his Ph.D. in Economics from Jawaharlal Nehru University. Prior to joining IIM Calcutta, he was associated with Indian Institute of Foreign Trade, Economic Research Foundation and Indian Council for Research on International Economic Relations (ICRIER). His research interests are in international trade, open economy macroeconomics, and development economics.
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Boosting India’s capital goods’ exports
Union budget 2021-22 has proposed a sharp 34.5% hike in capital expenditure, which is expected to boost the capital goods sector. While the sector has grown since liberalisation, its share in the global export market is under 1%, and there is heavy dependence on imports. Analysing trade data for the sector from 2008-09–2018-19, this article suggests that India has not been able to fully leverage free trade agreements due to non-tariff barriers and low competitiveness.
