Liberalizing India’s Economy Is Critical for Global Stability

September 07, 2021

The COVID-19 pandemic is increasing inequality globally and even advanced economies have not been spared. Before the pandemic began in 2020, inequality was on the rise. Decades of globalization, loose monetary policy and the rise of oligopolies have contributed to this phenomenon. In many ways,...

India Is Slowly Evolving Into a Market Economy

May 26, 2021

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...

Five Urgent Economic Reforms for India

May 05, 2020

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...

Why Does Happiness Elude India?

May 08, 2019

India needs to introspect as to why it has fared so miserably when it comes to being happy. The UN's 2019 World Happiness Report released in March shows that India is on a declining trend when it comes to happiness. The county ranked 117 in 2015, 118 in 2016, 122 in 2017, 133 in 2018 and is now...

Will India Listen to Its Protesting Farmers?

December 13, 2018

It is not just the vagaries of nature that push the farmers toward desperate measures — apathy from the government toward the agriculture sector had undermined its fragile economy. In June 2017, holding the skulls and bones of who he claims are farmers who had committed suicide, P. Ayyakannu,...

The Falling Indian Rupee: Crisis or Contagion?

September 19, 2018

American economic policies are causing the rupee to fall, but India’s fast-approaching elections might make its economic situation worse. On August 26, the Indian rupee started falling. On September 11, it fell to a record low with $1 worth Rs72.7. This led to a plunge in stock markets,...

Will a Loss in Bihar Derail Modi’s Economic Reforms?

November 22, 2015

Indian Prime Minister Narendra Modi has lost a critical state-level election. Does it mean the end of economic reforms for India? There were fireworks at the Patna regional headquarters of India’s Bharatiya Janata Party (BJP) on the morning of November 8. Early trends seemed to indicate that...

India’s Untapped Economic Potential

July 09, 2015

In this edition of The Interview, Fair Observer talks to Sunil Asnani, a portfolio manager at Matthews Asia. Ever since Indian Prime Minister Narendra Modi entered office in 2014, a positive reversal of the economy was expected. India’s economic situation deteriorated under the previous...

India’s Major Push into the Limelight

July 09, 2015

With momentum on its side, the Indian economy finally has an opportunity to achieve its potential. Background Some may argue that the Indian economy has been in the limelight for the past 20 years, but this time it seems to be different. India’s economy was liberalized in 1991 in the aftermath...

Narendra Modi: India’s Prime Minister in Waiting?

April 07, 2014

Modi, with his modest roots and focus on the economy, promises to usher in a new era for India. The Congress party has ruled India for the bulk of the period since independence. For the last decade, it has been in power in the form of the United Progressive Alliance (UPA), a coalition it forged...

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