Research in Economics

Research holds great significance in the growth of the Institute as it provides a strong pervasive interface between creation of knowledge and training. It has developed substantial consultancy capacity in analyzing international business scenario and developing appropriate corporate strategies. The Institute has also been successfully bidding for both national and international projects. The Division keeps organizing crucial national and international conferences on contemporary themes from time to time, which brings together eminent resource persons both from multilateral bodies, government sector and renowned academic institutions.



Study on MSME'S Contribution to India's Export Growth & Challenges faced by them in Expanding to New Markets

The study is undertaken on behalf of Export Credit Guarantee Corporation Ltd. (ECGC) aims at understanding the impact of guarantee schemes on export performance of MSME firms. This requires specific information about the various ECGC policies undertaken by the firms and the main challenges faced in obtaining these claims. Based on the research findings, Export Credit Guarantee Corporation of India Limited (ECGC) would be preparing an action plan for benefit of Indian companies. The survey work is under progress.

Study on Evaluation of Indian Footwear, Leather & Accessories Development Programme (IFLADP)

The study was commissioned on behalf of Department for Promotion of Industry and Internal Trade (DPIIT). The objective of this study was to evaluate the IFLADP scheme initiated in 2017 by DPIIT for three years. There are seven sub-schemes of the scheme, the approach of the evaluation is to assess the sub-schemes with respect to the performance of firms and employees’ engagement in terms of productivity improvement, market penetration, new jobs creation and social security benefits. The study examined the structure of Indian Leather industry and how IFLADP has supported the Leather industry. Prepared Survey Questionnaires for each sub-scheme, visited factories and conducted stake-holders’ meetings to understand the position of each sub-scheme. Each Sub-scheme was rigorously evaluated using REEIS framework and SWOT analysis. The study highlighted the areas that need to be improved in each sub-scheme to maximise the gains from the scheme if to be continued.

Study on Evaluation of Scheme for Investment Promotion of DPIIT

The study was commissioned on behalf of Department for Promotion of Industry and Internal Trade (DPIIT). The objective of this study was to ascertain increase in the investment level in the economy including FDI inflows following the implementation of SIP Scheme. Improvement in doing business ranking as recognition of policy reforms undertaken to boost investors’ confidence through various efforts under SIP. Growth achieved in manufacturing in the identified champion sectors who have used the programs under SIP. Achievement of implantation of Make in India action plans in the focus sectors through favourable fiscal incentives, FDI reforms, launch of new polices and scheme, Ease of Doing business reforms and skill development.

Study on Assessing the Import Tariffs and the State of Effective Rate of Protection in the Indian Aluminum Industry

The study sponsored by Global Axis provides an overview of the Indian Aluminum industry; analyzes the efficacy of the present policies with a focus on the contemporary trade situation and recommends suitable policy option to enhance the competitiveness and export performance of the downstream industry vis-à-vis the dynamics of global demand and supply. Analysis of the trade structure of the domestic aluminum industry, its duty structure and the calculation of effective rate of protection in the aluminum industry during post FTA period has been done along with challenges faced by the Indian aluminum downstream sector and its future potential. The rising requirement to “green” properties of the aluminum and awareness of the climate change mitigation has been assessed and World Integrated Trade Solution (WITS) SMART Analysis has been done to build a hypothetical scenario to import high quality primary aluminum in India at lower tariffs with the reference case of Russia.


Prospects for India-UK Trade and Investment: An Assessment of the Opportunities and Challenges sponsored by PwC & DFID (UK)

The study was undertaken on behalf of PricewaterhouseCoopers and Department for International Trade (DFID) UK. The study analyses trade between India and the UK at a disaggregated product and service level as well as aggregated level with a special emphasis on trade in parts, components and accessories to understand their role in the GVCs. Detailed analysis of import trends of India and the UK from the world has been carried out in different products and services. Potential products and services have been identified that India could export to the UK and the UK could export to India. The study examines the FDI trends between India and the UK and identifies potential opportunities for both the countries. It also examines the current market access issues which India faces in the UK and vice-versa in terms of trade policies, investment and other government policies. The study tries to develop recommendations for the trade and investment sector of India and the UK. Also, the need for integration of manufacturing, services, trade, investment and innovation policies is investigated in accordance with the Make-in-India program of the government.

Employment Diagnostics of Labour-Intensive Manufacturing Sector and Implication for India’s Exports sponsored by PwC & DFID (UK)
The study was sponsored by behalf of PricewaterhouseCoopers and Department for International Trade (DFID) UK. The objective of this study was to undertake an employment diagnostic of India’s labour-intensive tradable manufacturing sector (organised as well as unorganised) with a view to identifying policy measures to improve its export performance, while contributing to job creation in the economy. At macro-level, Inter-country comparison is done for manufacturing and services sector behaviour post-1990s. The study analysed the post-liberalisation trends of employment across India’s major tradable sectors. Using secondary and field data, the study investigated the impact of growing competition faced by India’s traditional labour-intensive exports and the labour market rigidities that prevent a firm/industry from equating real wages. This study developed an econometric model to comprehend the complex relationship among job growth, employment structure productivity growth, increasing capital-labour ratio and export growth. This study’s recommendation attempted to help the government to design incentives, skill development strategies and technology upgrading policy in export-oriented sectors to support sustainable growth in exports along with employment generation in the labour-surplus Indian economy.

Study on Developing India’s Service Trade Restrictiveness Index (STRI) sponsored by Ministry of Commerce and Industry
The study was conducted on behalf of Department of Commerce. The objective of the study is to rework the STRI using the OECD STRI methodology, binary scoring and same weights for the 5 policy areas but including new regulations to increase coverage and to develop an alternate index covering countries and sectors which are important from the context of services trade including additional sectors as well as regulations, exploring the possibility of continuous scoring and assigning different weights to the different policy measures.

Exploratory Study on Linkages between Technology and Trade
The study was sponsored by Ministry of Science & Technology, Department of Science & Technology. The study analyses trade patterns of Indian exports and imports classified at varying level of technology intensity and develop linkages between trade performance and technology competitiveness with its possible implications. It also explores the direct and indirect aspects of this phenomenon to help policy-makers develop insights on the development of S&T for enhancing contribution of Indian trade in global value chains.

Export Strategy Plan for Increasing Export of Spices and Value Added Products of Spices from India

The study conducted on behalf of Spices Board analyses the export trend of Indian spices so as to identify focus or potential export interest items and analyses the global market trends to identify the potential and emerging markets so that Indian export may be diversified in terms of destinations. The study analyses each spice / value added item and finds out why Indian exports are not performing better in some of the product lines. It also maps the value chain of spices and suggests how small domestic players may be protected against strong global multinational companies. The study also identifies the market access issues in the potential and major markets in the form of tariff and non-tariff barriers.