In spite of a lot of problematic issues of India’s integration with the Asian IPNs, it is believed that greater benefits of trade opportunity implications for developing countries in South Asia through their trade with India will dramatically arise if such integration of the Indian economy into Asian IPNs occurs. Additionally, although China, an Asian major power, is currently facing an aggressive competition from other low-wage countries, particularly developing nations in South-East Asia. Counterbalance with China is still required. In this regard, the position of India will become stronger as ASEAN’s members view that their engagement with India would serve a counterbalance with China. As a result, in order to obtain numerous advantages from the expansion of IPNs, in terms of export growth rate, employment stimulation and technology transfer, there are some recommended prospects for India to enhance its performance to catch up with this process. Firstly, outstanding benefits of India result from the sheer size of the country’s economy and population. An initial requirement for India to get more highly involved with the IPNs is to offer low trade costs. As a consequence, in order to establish appropriate costs, India’s economic policies should be revised to be more liberalized by reducing tariffs, especially on raw materials, parts and components, to be in line with the level of ASEAN and East Asian members. This is to say that the integration with IPNs cannot work efficiently under tight regulations and reservation of products for production by small firms. Moreover, in order to accommodate more convenient way for foreign trade, procedures for business application should become less complex by providing a one-stop service for foreign direct investment promotion. This prospect would help enhance the attractiveness by a large number of foreign investors.In addition, basic infrastructure in the country is still inadequate. This factor will limit local productivity and interest from multinational enterprises. A rapid upgrade of crucial infrastructure is required for the development in the near future. Furthermore, the pattern of PTAs into which India will enter should be changed to fit into “deep integration”, rather than a shallow form like before. A variety of researches also reveal in the same way.In order to ameliorate the status of India’s production networks in the region, efforts in securing and entering into several deeper PTAs with players in Asian IPNs have accelerated an increase in the amount of the integrated production network trade and operation of networks in the region.It is thus clearly that India should initially pursue policies in such directions and prospects to become more integrated in the IPNs.
All things considered, although it is not possible for all countries to take part in the IPNs, it is widely proved that the value of being connected to the production networks has brought about several advantages to the country. Encountering a lot of difficulties on unemployment challenges, India, therefore, as a late-comer with labor abundant in this process, should take a serious consideration in following the above-mentioned policies to become a major players in the IPNs.
In spite of a lot of problematic issues of India’s integration with the Asian IPNs, it is believed that greater benefits of trade opportunity implications for developing countries in South Asia through their trade with India will dramatically arise if such integration of the Indian economy into Asian IPNs occurs. Additionally, although China, an Asian major power, is currently facing an aggressive competition from other low-wage countries, particularly developing nations in South-East Asia. Counterbalance with China is still required. In this regard, the position of India will become stronger as ASEAN’s members view that their engagement with India would serve a counterbalance with China. As a result, in order to obtain numerous advantages from the expansion of IPNs, in terms of export growth rate, employment stimulation and technology transfer, there are some recommended prospects for India to enhance its performance to catch up with this process. Firstly, outstanding benefits of India result from the sheer size of the country’s economy and population. An initial requirement for India to get more highly involved with the IPNs is to offer low trade costs. As a consequence, in order to establish appropriate costs, India’s economic policies should be revised to be more liberalized by reducing tariffs, especially on raw materials, parts and components, to be in line with the level of ASEAN and East Asian members. This is to say that the integration with IPNs cannot work efficiently under tight regulations and reservation of products for production by small firms. Moreover, in order to accommodate more convenient way for foreign trade, procedures for business application should become less complex by providing a one-stop service for foreign direct investment promotion. This prospect would help enhance the attractiveness by a large number of foreign investors.In addition, basic infrastructure in the country is still inadequate. This factor will limit local productivity and interest from multinational enterprises. A rapid upgrade of crucial infrastructure is required for the development in the near future. Furthermore, the pattern of PTAs into which India will enter should be changed to fit into “deep integration”, rather than a shallow form like before. A variety of researches also reveal in the same way.In order to ameliorate the status of India’s production networks in the region, efforts in securing and entering into several deeper PTAs with players in Asian IPNs have accelerated an increase in the amount of the integrated production network trade and operation of networks in the region.It is thus clearly that India should initially pursue policies in such directions and prospects to become more integrated in the IPNs.All things considered, although it is not possible for all countries to take part in the IPNs, it is widely proved that the value of being connected to the production networks has brought about several advantages to the country. Encountering a lot of difficulties on unemployment challenges, India, therefore, as a late-comer with labor abundant in this process, should take a serious consideration in following the above-mentioned policies to become a major players in the IPNs.
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