Special Issue Call for Papers Emerging Patterns of HRM in the New Indian Economic Environment

摘要

From its political independence in 1947 until early 1991, India adopted a "mixed economy" approach (emphasizing both private and public enterprise), which had the ironic effect of reducing entrepreneurship and global competitiveness-both necessary for national growth. Indeed, the late 1980s were characterized by double-digit inflation, decelerated industrial production, and a dismally low level of foreign exchange reserves. To meet these challenges, a number of reforms were made in the public sector, and controls over the banking sector and foreign investments were liberalized, with the result that the economy has become dynamic and vibrant, and foreign investment has accelerated significantly. At present there are over 20,000 foreign firms operating in India (in different forms), with many more on the anvil.