75 Years of India’s Foreign Exchange Controls: A Story of Slow-Burn Liberalization

Summary: This essay chronicles the gradual liberalization of India’s foreign exchange controls from 1947 to the present, detailing the shift from stringent restrictions to a more open economy. It highlights the complex interplay between economic policies and their implementation, while advocating further liberalizing India’s economy to encourage foreign trade and investment, thereby integrating it into the global trading and financial system.

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