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Swathysree S S
Swathysree S S is a Doctoral Student in Economics at the Indian Institute of Management Calcutta. Her thesis focusses on India’s capital goods sector. She holds an Integrated Masters in Economics from the University of Hyderabad. Her research interests include economic development, the role of state and industrial policy, technological change and innovation.
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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.
