During the last two decades, India has witnessed several trade and industrial policy reforms. The objective of the study is to examine the relationship between dynamism of India’s two-way trade, measured through Marginal Intra-Industry Trade (MIIT) index, and labour market adjustments, reflected through absolute employment changes, in select manufacturing sectors over 2001–2015. India’s MIIT in select sectors generally display an upward trend over the sample period, while a mixed dynamics is observed on the employment front. The generalized method of moments (GMM) estimation results indicate that MIIT, increase in productivity, skilled workforce intensity, industrial concentration, incremental FDI inflows and trade openness positively influence absolute employment changes, whereas unskilled wage exerts a negative impact on the same. The analysis further concludes that high relative growth rate, skill-intensity, incremental FDI inflows and higher productivity in a sector, also characterized by higher MIIT, may lead the firms to employ more productive and competitive resources, resulting in higher absolute changes in employment. The obtained results do not support the Smooth Adjustment Hypothesis (SAH) predictions in the Indian context.

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劳动力市场调整和产业内贸易：印度制造业的实证结果

在过去的二十年里，印度见证了几次贸易和产业政策改革。本研究的目的是检验印度双向贸易的活力（通过边际产业内贸易（MIIT）指数衡量）与劳动力市场调整（通过绝对就业变化反映）之间的关系，在 2001 年至 2015 年期间，选定的制造业部门. 印度工业和信息化部在特定行业的样本期内普遍呈现上升趋势，而在就业方面则表现出喜忧参半。广义矩法 (GMM) 估计结果表明，工信部、生产率提高、熟练劳动力密集度、产业集中度、FDI 流入增量和贸易开放度对绝对就业变化产生积极影响，而非技术工资对其产生负面影响。分析进一步得出结论，一个部门的高相对增长率、技能密集度、增量 FDI 流入和更高的生产率，也以更高的工信部为特征，可能会导致企业使用更多生产性和竞争力的资源，从而导致更高的就业绝对变化。获得的结果不支持印度背景下的平滑调整假设 (SAH) 预测。