The impact of global economic policies on India's domestic reforms

Abstract

Global economic policies profoundly influence domestic reforms in emerging economies like India. This review explores the interplay between global economic trends and India's domestic policy shifts from 1991 to 2024. The analysis focuses on trade liberalization, fiscal policies, and structural adjustments prompted by international mandates, such as those from the World Trade Organization (WTO) and International Monetary Fund (IMF). Major findings highlight India’s calibrated approach to balancing global integration with domestic priorities, emphasizing sectors like manufacturing, agriculture, and technology. Despite significant achievements, challenges remain in harmonizing global standards with socio-economic realities. This review underscores the need for adaptive policymaking to navigate global economic uncertainties. Key areas analyzed include sectoral reforms, economic resilience, and policy implications for sustainable growth.