Structural changes and economic landscape of the Indian economy: 2000‐2019

Abstract

Abstract This study employs input‐output analysis to determine the extent of structural changes in the Indian economy, as well as how economic sector linkages changed between 2000 and 2019, and identifies the sectors with profound linkages with other sectors. Furthermore, we use the causative matrix to examine the temporal changes in intersectoral interactions. The analysis shows that manufacturing sectors have stronger intersectoral linkages than sevice sectors, with resource‐intensive and scale‐intensive manufacturing sectors having the most profound linkages. Furthermore, the causative matrix analysis reveals that Indian sectors became more externalized following the global financial crises, while receiving less feedback from other sectors. The results suggest that intersectoral linkages should be taken into account when designing industrial policies, and that investment should be encouraged in India's key economic sectors.

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