Tag: India economy news

India Is Slowly Evolving Into a Market Economy

India Is Slowly Evolving Into a Market Economy

India has come a long way since its independence from colonial rule in 1947. It started as a mixed economy where elements of both capitalism and socialism coexisted uneasily. Jawaharlal Nehru, India’s first prime minister, was a self-declared Fabian socialist who admired the Soviet Union. His...

Sovereign Wealth Funds Bet Big on India

Sovereign Wealth Funds Bet Big on India

Since the outbreak of COVID-19, bad news has dogged India on the economic front. By the end of the 2020-21 financial year, which begins on April 1 and ends on March 31, the country’s GDP is estimated to shrink by 7.7%, the biggest contraction since 1952. In the first quarter of the 2020-21...

Agriculture Is India’s Ray of Hope in Time of Crisis

Agriculture Is India’s Ray of Hope in Time of Crisis

As India completes 73 years of independence, agriculture has emerged as a mainstay of the economy. Despite the COVID-19 crisis, Indian agriculture is poised to grow by an estimated 3% in 2020-21. Shaktikanta Das, the governor of the Reserve Bank of India (RBI), has acknowledged that agriculture...

Why Is Foreign Investment Flooding Into India?

Why Is Foreign Investment Flooding Into India?

For years, India suffered from what came to be called the “Hindu rate of growth” — a result of Jawaharlal Nehru’s policy choices. India’s first prime minister had a fascination for the Soviet Union and championed socialism. In India, this socialist economic model was incongruously...

Five Urgent Economic Reforms for India

Five Urgent Economic Reforms for India

US President Donald Trump had already taken a sledgehammer to the export-led growth model. With the COVID-19 pandemic rousing primal passions, hitherto unfashionable ideas are emerging like Dracula from their grave. Protecting infant industries to improve future competitive advantage or strategic...

Narendra Modi Has No Business Campaigning for Trump

Narendra Modi Has No Business Campaigning for Trump

On September 22, Indian Prime Minister Narendra Modi attended a rally in Houston, Texas, amidst a thunderous welcome from 50,000 Indian Americans chanting “Howdy, Modi!” He appeared on stage along with the US president, Donald Trump, who was introduced by Modi as “my friend, a friend of...

India Elections: A Time of Crisis for the BJP?

India Elections: A Time of Crisis for the BJP?

The future of the BJP depends on what the party does with the little time left. The world’s largest democracy is counting the days to its general election scheduled to begin on April 11, with major opposition parties determined to turn the tables this time. For the ruling Bharatiya Janata...

Will India’s Unemployment Crisis Cost Modi His Job?

Will India’s Unemployment Crisis Cost Modi His Job?

The challenge of fixing India’s job crisis is an unachievable task for any one-term government. India is the world’s fastest-growing major economy. It is also home to the highest number of unemployed in the world. More than half of India’s 1.2-billion population is under the age of 25....

Can India Navigate Between Israel and Palestine?

Can India Navigate Between Israel and Palestine?

India could benefit from strengthening its ties with Israel, but it must not isolate Palestine and its supporters among the OIC countries. Traditionally, India adheres to the bilateral approach in the Israeli-Palestinian conflict, dealing with both sides on equal terms in advocating peaceful...

Boosting Afghanistan’s Private Sector

Boosting Afghanistan’s Private Sector

Cooperation between India and Afghanistan can bring mutual benefits and strategic advantages. Worldwide, the private sector is the primary driver of economic growth. It plays a central role in the creation of capital, income, employment, mobilization of domestic resources, innovation and welfare...

It’s Time to Make in India

It’s Time to Make in India

The Make in India campaign is an attempt to encourage foreign investment and manufacturing in the country. When Prime Minister Narendra Modi took over the reins from his predecessor Manmohan Singh in 2014, he made it very clear that he was a man with a purpose: to make India a global...

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