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dc.description.abstractIndian economy has undergone a paradigm shift from agricultural predominance to service sector over the last six decades. Growth of services and manufacturing sector placed India among the fast emerging markets and attractive investment destination for global investors. For the first fifty years after independence, foreign exchange was a scarce and, thus, a controlled resource. With gradual opening of economy in the early nineties, and Foreign Exchange Management Act, 1999 (FEMA) superseding the Foreign Exchange Regulation Act, 1973, there was a noticeable shift from a controlled regime to relatively liberalized environment. Initially current account transactions were opened up to give fillip to trade, and industry sector specific relaxation was pronounced on capital account allowing Foreign Direct Investment by way of automatic or approval route. Indian Government has been proactive in gradually liberalizing capital account transactions since FEMA was enacted on inbound investments, overseas investment and External Commercial Borrowings. In the pursuit of development, it may be necessary to decontrol capital account transactions to achieve full convertibility of Indian Rupee; however, after nearly two decades of liberalisation, there are still challenges to open up many industry sectors on capital account. This study is undertaken to identify factors that influence policy reforms with regard to cross border capital account transactions and provide recommendations to policy makers and industry. Research gaps derived after extensive literature review has led to relevant research questions and hypotheses for testing. The nature of study required detailed and interactive inputs from industry and policy makers to get the perspective and understanding on the subject matter. Qualitative methodology is used for the purpose of research with use of primary data collected from industry and policy makers, and existing secondary data for additional analysis. In-depth interviews of twenty six senior management level respondents were conducted with open-ended questions to capture primary data to gather industry and policy makers views on cross border reforms and thematic inputs on inbound investments, outbound investments, external commercial borrowings, and full convertibility. For wider and deeper understanding, six different industries are identified for selection of respondent with further emphasis on pharmaceutical and chemical industry. Secondary data in terms of India macroeconomic trends and global scenario are analysed to support or validate the findings. For a comprehensive study, detailed data analysis is carried out by dissecting primary data into industry sectors, policy makers, and thematic analysis, India macroeconomic trends, and global scenario.-
dc.titleCross Border Capital Account Transactions : Factors Influencing Policy Reforms in India-
dc.creator.researcherGodiawala, Savan Rashmikant-
dc.subject.keywordSocial Sciences,Economics and Business,Business-
dc.contributor.guideAmarnani, Neeraj-
dc.publisher.universityNirma University-
dc.publisher.institutionInstitute of Management-
Appears in Departments:Institute of Management

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02_dedication.pdf71.66 kBAdobe PDFView/Open
03_certificate.pdf53.72 kBAdobe PDFView/Open
04_declaration.pdf57.92 kBAdobe PDFView/Open
05_abstract.pdf182.97 kBAdobe PDFView/Open
06_acknowledgements.pdf459.03 kBAdobe PDFView/Open
07_contents.pdf205.43 kBAdobe PDFView/Open
08_list of tables.pdf189.84 kBAdobe PDFView/Open
09_list of figures.pdf178.55 kBAdobe PDFView/Open
10_abbreviations.pdf190.08 kBAdobe PDFView/Open
11_chapter 1.pdf387.23 kBAdobe PDFView/Open
12_chapter 2.pdf604.95 kBAdobe PDFView/Open
13_chapter 3.pdf469.37 kBAdobe PDFView/Open
14_chapter 4.pdf2.43 MBAdobe PDFView/Open
15_chapter 5.pdf702.85 kBAdobe PDFView/Open
16_chapter 6.pdf565.89 kBAdobe PDFView/Open
17_appendices.pdf1.01 MBAdobe PDFView/Open
18_references.pdf366.38 kBAdobe PDFView/Open

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