Sluggish industrial output limits economic growth to 5%: Finance Chief Sinha promises broader and faster reform measures amid nation's fiscal decay

Article Abstract:

The decline in imports and industrial production has decreased projections for India's growth to only 5% for 1998, compared to 7.5% in 1997. Complicating India's international financial standing is the projected 6.1% deficit in the country's gross domestic product, which places the country's fiscal discipline in serious question. India's finance minister, Yashwant Sinha and the Bharatiya Janata Party wants to restore fiscal balance by raising import tariffs, which they believe will increase customs collection and protect domestic industries from competition.

Public Finance Activities, Fiscal Policy, Administration of Urban Planning and Community and Rural Development, Economic Development NEC, Economic aspects, Economic policy, Economic development, Bharatiya Janata Party (India)

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Breaking up: rapid growth, freer markets strain Indian ventures

Article Abstract:

The experiences of many major US and multinational manufacturing firms in India suggests that joint ventures should only be entered into with Indian firms if necessary. With the liberalization of economic policy in India, there are fewer reasons to enter into joint ventures. Some experts feel that foreign corporations are better off trying to develop their own marketing and distribution systems without pairing up. The experiences of Unisys Corp., Whirlpool Corp. and Proctor & Gamble Co. with joint ventures are detailed.

Joint-Venture Management, Joint ventures, Procter & Gamble Co., PG, Unisys Corp., UIS, Whirlpool Corp., WHR, Tata Sons Ltd., Godrej Soaps, TVS Whirlpool Ltd.

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Pakistan's test of nuclear arms brings trade sanctions: US cuts aid swiftly, rendering a blow to cripple economy; threat of arms race looms

Article Abstract:

US President Clinton has announced the imposition of trade sanctions on Pakistan for conducting nuclear arms tests on May 1998 near the Afghan border. The tests, which were conducted as a response to similar tests by rival India, have been declared illegal under the 1994 nuclear nonproliferation law. The trade sanctions, which will also be enforced by Japan, are expected to heavily cripple the Pakistani economy which depends on foreign aid from the IMF and World Bank.

Administration of General Economic Programs, National Security, Defense Administration & Finance, Trade Bans & Embargos, Pakistan, International economic relations, Military policy, Economic sanctions, Sanctions (International law), Embargoes

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