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This paper reviews India’s place in the international economy by identifying areas of its comparative advantage, characteristics of the Indian market and institutional environment, capabilities of Indian companies as global players, India’s human resource base and demographics, and industry and knowledge clusters which already are, or have the potential to become, globally competitive. Drawbacks, such as labor laws, inadequate infrastructure, and the less than complete participation of women, that currently constrain the development of the Indian market and companies in India, are also alluded to. A later section summarizes the other papers in this special issue. We conclude with recommendations for future economic policies in terms of which portions of the value chain India may emphasize, to best utilize its competitive strengths in international business.
