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Book part
Publication date: 19 July 2023

Anup Kumar Saha and Sreelata Biswas

Stable high growth in the service sector has made India free from the stigma of slow and steady ‘Hindu rate of growth’ of about 3.5% per annum during the first three decades of…

Abstract

Stable high growth in the service sector has made India free from the stigma of slow and steady ‘Hindu rate of growth’ of about 3.5% per annum during the first three decades of independence. Service-led growth has placed India among the top performing giant economies in the world. India is now a 3 trillion USD (United States Dollar) economy in terms of Nominal GDP (IMF, 2020). Under this milieu, the chapter aims to examine whether the growth in the service sector in India is inclusive or not. The observations of the study have shown that the service sector has been growing at fast pace compared to the other two sectors, which makes the system into jobless status. The sectoral contribution of service sector to the GDP is increasing after the new economic reform of 1990, but the employment contribution is going down. So the country is now in the grip of ‘jobless’ growth, and the grip is strengthening because of some structural issues such as changes in consumers’ demand with rising per capita income. Further deepening of finance capital in the savings sphere of service sector has made the wide disconnect between the real economic activity and growth of finance capital. Revival of high linkage sectors with higher potential for employment growth, such as agriculture and manufacturing, can be game changer towards the goal of inclusiveness.

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Inclusive Developments Through Socio-economic Indicators: New Theoretical and Empirical Insights
Type: Book
ISBN: 978-1-80455-554-5

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Book part
Publication date: 19 July 2023

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Inclusive Developments Through Socio-economic Indicators: New Theoretical and Empirical Insights
Type: Book
ISBN: 978-1-80455-554-5

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Book part
Publication date: 9 March 2021

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Global Tariff War: Economic, Political and Social Implications
Type: Book
ISBN: 978-1-80071-314-7

Book part
Publication date: 30 September 2021

Kunal Kamal Kumar, Sushanta Kumar Mishra and Pawan Budhwar

The “war for talent” is not limited to developed economies but has become a common feature in emerging economies such as India. From the sociocultural perspective, India…

Abstract

The “war for talent” is not limited to developed economies but has become a common feature in emerging economies such as India. From the sociocultural perspective, India represents one of the oldest cultural heritages with distinct cultural values. The cultural difference may contribute to explain organizational practices toward talent retention. In the present chapter, the authors focus on the institutional, legal, and cultural context and highlight their uniqueness with respect to the Indian context. Within the institutional context, the authors found that prior to liberalization (which happened in 1990s), the Indian business scene was dominated by public firms or a small enclave of private firms. For both types of organization, turnover hardly mattered, and turnover was indeed negligible. Employees saw firms as “employers for life”: in such a context, voluntary turnover was extremely rare. Further, in the early legal context, it was hard for any private firm to “fire” an employee. Therefore, involuntary turnover was close to nil as well. Things began to change post-liberalization when the Indian scene was dominated by an influx of private players. The Indian mind too accepted turnover to be a part of the corporate life. In the present chapter, the authors provide a snapshot of what, why, and how of employee turnover in the Indian context. The authors specifically focus on what motivates employees to remain with the organization or why do they leave the organization. The authors close the chapter with insights relevant to both academicians and practitioners.

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Global Talent Retention: Understanding Employee Turnover Around the World
Type: Book
ISBN: 978-1-83909-293-0

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Book part
Publication date: 3 June 2021

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Productivity Growth in the Manufacturing Sector
Type: Book
ISBN: 978-1-80071-094-8

Book part
Publication date: 9 March 2021

Shrabanti Maity and Anup Sinha

India is one of the largest tea producers and consumers in the world. Around 70% of Indian tea is consumed by domestic consumers. The world famous Darjeeling and Assam tea are…

Abstract

India is one of the largest tea producers and consumers in the world. Around 70% of Indian tea is consumed by domestic consumers. The world famous Darjeeling and Assam tea are India’s pride. Once India was the top exporter of tea in the global market, currently, it is lagging behind China, Kenya, and Sri Lanka. In the global arena, Indian tea is facing stiff competition from China, Kenya, and Sri Lanka. With this backdrop, the present study aims to investigate twin objectives. First, the changing growth pattern of India’s tea export is investigated. Along with this, the impacts of trade openness on India’s tea export are also scrutinized. The entire study is conducted based on the secondary data, compiled from the various issues of Handbook of Statistics on Indian Economy published by Reserve Bank of India. The data are compiled for the period 1987–1988 to 2018–2019. The investigation of the first objective is facilitated by the Poirer’s Spline function approach. On the contrary, for the exploration of the second objective, we have calculated the “trade openness index.” The study concludes that initially with trade openness Indian tea industry was benefitting but the growth rate of tea export gets reduced over time. It is surprising that in the post-EXIM-2002–2007 phase the rate of growth of India’s tea exports has declined sharply. The study ends with suitable policy prescriptions.

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Global Tariff War: Economic, Political and Social Implications
Type: Book
ISBN: 978-1-80071-314-7

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Book part
Publication date: 3 June 2021

Shrabanti Maity and Anup Sinha

Indian textiles have a history of fine craftsmanship, and because of that, it has its own global appeal and international demand. India has its own extensive base of raw material…

Abstract

Indian textiles have a history of fine craftsmanship, and because of that, it has its own global appeal and international demand. India has its own extensive base of raw material and manufacturing. This makes India the second-largest textile exporter in the world after China. India's share in the global textiles and apparels trade was approximately 5% in 2017. In 2017, India's textile industry contributes 7% of total industry output and employs about 45 million people directly. Its contribution to the country's GDP and export earnings in the same year was 2% and 15%, respectively. With this backdrop, the present chapter aims to investigate twin objectives. Initially, the changing growth pattern of India's readymade garment export is investigated. Along with this, the impacts of trade openness on India's readymade garment export are also scrutinized. The entire study is conducted based on the secondary data, compiled from the various issues of “Handbook of Statistics on Indian Economy,” published by “Reverse Bank of India.” The data are compiled for the period 1987–1988 to 2018–2019. The investigation of the first objective is facilitated by the “Poirer's Spline function approach.” On the contrary, for the exploration of the second objective, we have calculated the “trade openness index.” It is measured as the sum of export and import as a percentage of GDP. The study concludes that the Indian readymade garment industry shows a declining growth rate and the industry is benefited from trade openness. The study ends with suitable policy prescriptions.

Details

Productivity Growth in the Manufacturing Sector
Type: Book
ISBN: 978-1-80071-094-8

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