The Risks to India’s Rise
A rapidly growing, democratic India would benefit not only Indians, but the entire world. Unfortunately, the path Prime Minister Narendra Modi’s government is currently on – which includes embracing Hindu chauvinism and reimposing controls on trade – is leading the country in the wrong direction.
MUMBAI – A few decades ago, India was a relatively minor player on the world stage. Despite its size and vast population, the country grappled with what became pejoratively known as the “Hindu rate of growth,” with GDP increasing at a tepid annual pace of 4%, or 2% per capita from 1947, when it gained independence, until the 1980s.