accumulation of policy 150
Association of South-East Asian Nations (ASEAN) 127
autonomous monetary policy 65
black economy 2, 31, 32, 41, 42
budgetary balance 14
capital account convertibility 42, 70, 71
colonial expenditure 15
commanding heights 141
Committee on Price Negotiations on Patented Drugs 106
Council bills 13
degree of openness 2, 45–46, 48, 50, 57, 61, 62; foreign capital-related 50, 55; trade-related 50, 55
deregulation of finance 53
dollarization 69
Draft National Pharmaceuticals Policy 106
drain of resources 1
drain of surplus 65
Drugs Price Control Order (DPCO) 97
economic diplomacy 148
emerging market economies (EMEs) 68, 69, 71, 73, 76
exchange-rate appreciation 78
export surplus 14, 15, 19, 20, 21, 22, 24; of colonial goods 11
external financial liabilities 72
fiscal deficit 64
fiscal policy 73
Fiscal Responsibility and Budget Management Act 150 fn5
flight of capital 29, 34, 41, 42
Foreign Exchange Regulation Act (FERA) 94, 142
fragmentation of production 119
free competition 146
generic competition 106
generic market 91
havala 29, 31, 36, 37, 39, 40, 41
Home Charges 9
horizontal specialization 119, 122
import intensity 52
illegal flows 2, 28, 29, 31, 32, 34, 35, 36, 37, 40, 41, 42
Illicit flows 39; financial flows 29
import surplus 11
Industrial Disputes Act 142
internationalization 119
intra-industry trade (IIT) 4, 115, 124–126; horizontal IIT 125; vertical IIT 125
intraregional trade 112
investment diversion 118
Kefauver Committee 90
Kemp–Wan–Vanek–Ohyama theorem 117
liberalisation-by-stealth 143
liberalisation, privatisation and globalisation (LPG) 46, 48, 49,
managed float 72
MERCOSUR 127
monetary-policy independence 73
Mundell–Fleming (M–F) model 2, 69, 73, 74, 75, 79, 83, 86
Minskyan financial instability hypothesis 3, 68
Monopoly and Restrictive Trade Practices (MRTP) 142
National Manufacturing Plan (NMP) 150
National Pharmaceutical Pricing Authority (NPPA) 97
natural monopoly 147
net transfer of financial flows 2; of financial resources (NTR) 59, 60, 61, 62; of financial resources excluding the net invisibles (NTRWONI) 60, 61
new biological entities (NBEs) 99, 100
new chemical entities (NCEs) 99, 100
New Drug Policy 94
New molecular entities (NMEs) 99
over-invoicing 34
Planning Commission 143, 146, 147, 148, 150; as a super regulator 149
planning period 141
Ponzi finance 69
product patent 3, 90, 98, 100, 102, 103
real effective exchange rate (REER) 72, 83, 84, 85, 87
round tripping 31
Rules of origin (ROO) 4, 122–123; as development instruments 130–131
Rupee bills of exchange 13
RTAs (Regional Trade Agreements) 4, 5, 110, 111, 117; an integrated approach 129–130; as a balance between opening and protection 129; and peace 126–127; and technology 120–121; Deepening of RTAs 113–114; growth and income convergence effects 123–124; scale expansion 130; some critical insights 127–129; static and dynamic effects 121–122
savings-investment balance 14
second-generation reforms 145
self-sufficiency 141
South Asian Association for Regional Cooperation (SAARC) 127
state populism 141
Swiss Bank 38
Swiss Bankers’ Association 29
Tarapore Committee 70
tariff jumping 119
tax havens 37
Tax Justice Network (TJN) 30
trade balance 14
trade-creating effects 4
trade with colonized regions 16
trade with sovereign areas 16
trickle down 5
TRIPS 3, 4, 90, 91, 99, 100, 106
under-invoicing 34
Washington Consensus 143