Opinion
India’s economy won’t rise if it keeps turning inwards
India’s middle-class consumer market is not big enough to support Narendra Modi’s protectionist drift.
Andy MukherjeeShortly before the 2014 election that made him prime minister, Narendra Modi came up with the idea that India’s young population, constitutional checks on arbitrary political power and large domestic market would bring prosperity over a decade. He even coined a slogan, calling it the nation’s 3D advantage – demographics, democracy and demand.
IKEA’s new retail store in Hyderabad will be a test of the country’s middle-class consumption. New York Times
Bloomberg Opinion
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