Description: This volume seeks to present the main strands in the debate on industrialisation in India. The essays included here analyse the factors underlying the deceleration in industrial growth from the mid-1960s to the mid-1970s and discuss the conditions and policies for a return to the path of sustained growth. The alternative hypotheses about the macroeconomic determinants of, and constraints on, industrial growth in India focus on the performance of the agricultural sector, intersectoral terms of trade between agriculture and industry, disproportionalities within and between sectors, the level of investment in the economy, the nexus between public and private investment and the relative significance of supply and demand constraints. While the issues raised in the debate continue to be important in India, they are of relevance also for studies of other late-industrialisers, particularly the larger countries of Asia and Latin America. The volume will be found valuable by the specialist researcher as much as the interested reader unfamiliar with the extensive literature.

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