INDUSTRY CONCENTRATION VIS-À-VIS SUSTAINABLE GROWTH-CASE OF SOME SPECIFIC INDIAN INDUSTRIES
Keywords:
industrialization, liberalization, industry concentration, sustainable growth, Herfindahl Index, manufacturing industryAbstract
The subject of industrialization receives the attention of scholars and policy formulators over the years throughout the world. By any reckoning the nineties represent a significant development in the recent economic history of Indian manufacturing industry. The economic liberalization and globalization of Indian economy in 1991 represents two important dimensions for the manufacturing industry in India. First, Trade liberalization- it represented an effort to integrate India with the rest of the world, second abolition of industrial licensing and increase the role of private sector in industrial development. This paper makes an attempt in analyzing industry concentration through Herfindahl Index and the sustainable growth of these industries through the factors like leverage, sales potentiality and assets investment to assess industrialization experience. The focus is on post reform period from 1990-2014for four manufacturing industries and have also examined whether industry concentration is affecting sustainable growth for these industries or not.
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