Unleashing the Market in India
By Laveesh Bhandari, Jeremy Carl, Bibek Debroy, Michelle Kaffenberger, Pravakar Sahoo, and Derek Scissors
The movements of goods, services, capital, and labor between India and the U.S. are inadequate for two such large economies. There are also disputes about the movement of information, in the form of intellectual property. That is why India is not yet shining in The Heritage Foundation's Index of Economic Freedom.
The two national governments are principally responsible for this failure. A smaller role for them and a larger one for companies and individual states in both countries, based on the principle of free and open exchange, would transform the bilateral relationship and much of the rest of the world.
Even if a sound bilateral investment treaty (BIT) is eventually achieved, progress should not wait. There is much to be gained for India and the U.S. in the interim. Moreover, it is far more likely that action by individuals, companies, and states entirely outside the BIT process will eventually generate a good BIT than that a good BIT will emerge from bilateral talks. These outside actions should start immediately.
What else can the U.S. do to improve this relationship? Read more in this special report. Unleashing Markets in the India-U.S. Economic Relationship
By Laveesh Bhandari, Jeremy Carl, Bibek Debroy, Michelle Kaffenberger, Pravakar Sahoo, and Derek Scissors
The movements of goods, services, capital, and labor between India and the U.S. are inadequate for two such large economies. There are also disputes about the movement of information, in the form of intellectual property. That is why India is not yet shining in The Heritage Foundation's Index of Economic Freedom.
The two national governments are principally responsible for this failure. A smaller role for them and a larger one for companies and individual states in both countries, based on the principle of free and open exchange, would transform the bilateral relationship and much of the rest of the world.
Even if a sound bilateral investment treaty (BIT) is eventually achieved, progress should not wait. There is much to be gained for India and the U.S. in the interim. Moreover, it is far more likely that action by individuals, companies, and states entirely outside the BIT process will eventually generate a good BIT than that a good BIT will emerge from bilateral talks. These outside actions should start immediately.
What else can the U.S. do to improve this relationship? Read more in this special report. Unleashing Markets in the India-U.S. Economic Relationship