Industry and Trade
Issues related to industry, trade and investments comprise one of the core areas of research at the Centre. Research related to industry specifically look into various aspects including performance of the Indian corporate sector, role of MNCs in Indian manufacturing sector, spill over effects of FDI inflows, implications of Global Value Chain, mergers and acquisitions, etc. There have been a number of studies specific to sectors like electronics, pharmaceutical, capital goods, paper, tea, etc. Another set of studies analyse issues like frugal innovation, STI policies, R&D tax incentives and IPR policy. Issues like competition policy, corporate governance, regional concentration and urban formation, diffusion of automation, innovation, disinvestments and CSR have also been well researched upon.
There has been a plethora of research being undertaken to analyse the various aspects of international trade – both theoretical and empirical. One debate that has remained the cornerstone of trade policy is that of protectionism vis-à-vis liberalisation. Further, in a continuously integrating world economy, such trade policies lead further to the debate between global free trade vis-à-vis regionalism. Theoretical research under this theme has contributed predominantly to these debates. There have been studies analysing the welfare implications of protectionism and the optimality of the mechanism of trade negotiations. The optimal structure of trade blocs has also been analysed. These studies have also considered the pivotal role of market structure in determining both the optimal degree of protectionism and the equilibrium structure of trade blocs. There has also been some work on the welfare implications of international capital flows. Empirical research under this theme has addressed various concerns with both international and national perspectives. Studies have analysed the myriad implications of trade and liberalisation on the Indian economy like growth, productivity, export pattern, R&D spillovers, FDI, mergers and acquisitions, etc. There have been studies focusing on inter-country comparisons, particularly in light of global economic crises. Further, implications of regional economic integration, particularly involving India, have also been analysed.