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Foreign Exchange Spending and Earning of Corporates in India
An analysis of corporate sector earnings and spending reveals that since liberalisation in the early 1990s, Indian companies have become increasingly dependent on foreign inputs, while foreign companies operating in India continue to focus on marketing their products here. Undeniably, the corporate sector has been and is a major contributor to India's current account deficit.
The author would like to thank an anonymous referee for insightful comments on a previous version of this article.
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