India’s global power ambitions come down to economic reform
Without reform, India will continue to be marked by the paradox that characterises China – having a large economic mass that does not translate into high levels of distributed prosperity.
India’s ambitions to rise as global power, harboured since independence in 1947, depend now, as then, on its internal economic performance.
The principal task facing its leaders, then, is to convert what has been an episodic peak growth rate of 7 per cent or higher into a new trend growth rate for at least the next two decades.
