Smitha Francis is Consultant with the Institute for Studies in Industrial Development (ISID), New Delhi, India. Her research interests cover the interfaces between different processes of trade and FDI liberalisation, industrial policy, digital transformations, and manufacturing sector development. Previously, she has worked at Economic Research Foundation (ERF), New Delhi, the Secretariat for International Development Economics Associates (IDEAs) and Research and Information Systems for Developing Countries (RIS), New Delhi. She has also served as a Visiting Faculty member at the South Asian University, New Delhi and Ambedkar University Delhi. In addition, she has been a consultant in projects sponsored by the Department of Commerce, Government of India; Indian Council for Social Science Research (ICSSR); Rosa Luxemburg Foundation, Brussels; Centre for WTO Studies, New Delhi; Frederick S. Pardee Centre for the Study of the Longer-Range Future, Boston University; UN OHCHR and UNICEF.

• 1. Introduction 2. Industrial Policy: Evolution of the Discourse 3. Global Value Chains: Heightening the Industrial Policy Imperative 4. Liberalisation Sans Industrial Policy: The Experience of Indian Electronics Industry 5. Industrial Policy Constraints in Indian FTAs 6. Conclusion. Bibliography

‘Ably examining the interactions between trade and foreign investment "liberalisation" and other industrial policies, and their implications for Indian industrial restructuring, Smitha Francis critically considers Indian participation in global value chains, especially electronics, and with plurilateral "free trade" agreements.’Jomo Kwame Sundaram, former UN Assistant Secretary General for Economic Development‘India’s economy is delicately poised in the context of today’s globalisation. Smitha Francis’s theme that India urgently needs firm-level industrial policy is well argued, convincing, timely and relevant beyond India.’Pasuk Phongpaichit, Professor Emeritus in Political Economy, Chulalongkorn University, Bangkok, Thailand ‘A path-breaking book, which undertakes a critical look at the interactions between trade, FDI, global value chains and manufacturing sector in India. A highly recommended book for researchers and policymakers.’Abhijit Das, Professor and Head, Centre for WTO Studies, New Delhi, India‘Global production networks have changed forever the way in which cross-border transactions in goods and services are conducted. Smitha Francis has provided a remarkable account of this complex phenomenon with considerable deftness. This volume is a must-read for all students of international economics.’Biswajit Dhar, Professor, Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi, India

Smitha Francis is Consultant with the Institute for Studies in Industrial Development (ISID), New Delhi, India. Her research interests cover the interfaces between different processes of trade and FDI liberalisation, industrial policy, digital transformations, and manufacturing sector development. Previously, she has worked at Economic Research Foundation (ERF), New Delhi, the Secretariat for International Development Economics Associates (IDEAs) and Research and Information Systems for Developing Countries (RIS), New Delhi. She has also served as a Visiting Faculty member at the South Asian University, New Delhi and Ambedkar University Delhi. In addition, she has been a consultant in projects sponsored by the Department of Commerce, Government of India; Indian Council for Social Science Research (ICSSR); Rosa Luxemburg Foundation, Brussels; Centre for WTO Studies, New Delhi; Frederick S. Pardee Centre for the Study of the Longer-Range Future, Boston University; UN OHCHR and UNICEF.

• 1. Introduction 2. Industrial Policy: Evolution of the Discourse 3. Global Value Chains: Heightening the Industrial Policy Imperative 4. Liberalisation Sans Industrial Policy: The Experience of Indian Electronics Industry 5. Industrial Policy Constraints in Indian FTAs 6. Conclusion. Bibliography

‘Ably examining the interactions between trade and foreign investment "liberalisation" and other industrial policies, and their implications for Indian industrial restructuring, Smitha Francis critically considers Indian participation in global value chains, especially electronics, and with plurilateral "free trade" agreements.’Jomo Kwame Sundaram, former UN Assistant Secretary General for Economic Development‘India’s economy is delicately poised in the context of today’s globalisation. Smitha Francis’s theme that India urgently needs firm-level industrial policy is well argued, convincing, timely and relevant beyond India.’Pasuk Phongpaichit, Professor Emeritus in Political Economy, Chulalongkorn University, Bangkok, Thailand ‘A path-breaking book, which undertakes a critical look at the interactions between trade, FDI, global value chains and manufacturing sector in India. A highly recommended book for researchers and policymakers.’Abhijit Das, Professor and Head, Centre for WTO Studies, New Delhi, India‘Global production networks have changed forever the way in which cross-border transactions in goods and services are conducted. Smitha Francis has provided a remarkable account of this complex phenomenon with considerable deftness. This volume is a must-read for all students of international economics.’Biswajit Dhar, Professor, Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi, India

Smitha Francis is Consultant with the Institute for Studies in Industrial Development (ISID), New Delhi, India. Her research interests cover the interfaces between different processes of trade and FDI liberalisation, industrial policy, digital transformations, and manufacturing sector development. Previously, she has worked at Economic Research Foundation (ERF), New Delhi, the Secretariat for International Development Economics Associates (IDEAs) and Research and Information Systems for Developing Countries (RIS), New Delhi. She has also served as a Visiting Faculty member at the South Asian University, New Delhi and Ambedkar University Delhi. In addition, she has been a consultant in projects sponsored by the Department of Commerce, Government of India; Indian Council for Social Science Research (ICSSR); Rosa Luxemburg Foundation, Brussels; Centre for WTO Studies, New Delhi; Frederick S. Pardee Centre for the Study of the Longer-Range Future, Boston University; UN OHCHR and UNICEF.

• 1. Introduction 2. Industrial Policy: Evolution of the Discourse 3. Global Value Chains: Heightening the Industrial Policy Imperative 4. Liberalisation Sans Industrial Policy: The Experience of Indian Electronics Industry 5. Industrial Policy Constraints in Indian FTAs 6. Conclusion. Bibliography

‘Ably examining the interactions between trade and foreign investment "liberalisation" and other industrial policies, and their implications for Indian industrial restructuring, Smitha Francis critically considers Indian participation in global value chains, especially electronics, and with plurilateral "free trade" agreements.’Jomo Kwame Sundaram, former UN Assistant Secretary General for Economic Development‘India’s economy is delicately poised in the context of today’s globalisation. Smitha Francis’s theme that India urgently needs firm-level industrial policy is well argued, convincing, timely and relevant beyond India.’Pasuk Phongpaichit, Professor Emeritus in Political Economy, Chulalongkorn University, Bangkok, Thailand ‘A path-breaking book, which undertakes a critical look at the interactions between trade, FDI, global value chains and manufacturing sector in India. A highly recommended book for researchers and policymakers.’Abhijit Das, Professor and Head, Centre for WTO Studies, New Delhi, India‘Global production networks have changed forever the way in which cross-border transactions in goods and services are conducted. Smitha Francis has provided a remarkable account of this complex phenomenon with considerable deftness. This volume is a must-read for all students of international economics.’Biswajit Dhar, Professor, Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi, India