ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Indian Manufacturing: Productivity Trends in Pre- and Post-Reform Periods

Contradicting the findings of several earlier studies, recent studies on productivity trends in Indian manufacturing by Unel (2003) and Tata Services (TSL) (2003) have concluded that total factor productivity (TFP) growth in Indian manufacturing accelerated after the 1991 economic reforms. This paper presents an alternative set of estimates of TFP growth in Indian manufacturing in the last two decades, which have largely been made following the methodology of input and output measurement adopted in the studies of Unel and TSL, but avoiding the methodological inadequacies noticed in them. The estimates indicate a slow down in TFP growth in Indian manufacturing in the post-reform period, and thus do not bear out the findings of the studies by Unel and TSL.

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