January 25, 2013

How to Save the Indian Miracle

Hemal Shah, Democracy Lab

AP Photo

Using its obligations to the IMF as political cover, India's government kickstarted the long-delayed process of liberalizing the economy back in 1991. The reforms -- and the economy -- have largely been a good news story ever since. Indeed, with growth averaging seven percent annually until the worldwide financial crisis in 2007, there was even talk that India would give China a run for its money as an emerging market powerhouse. But lost somehow in the tide of enthusiasm was the reality that two key IMF-prescribed reforms -- fundamental changes in labor and tax laws -- were left incomplete.

Read Full Article ››

TAGGED: Manmohan Singh, India

RECOMMENDED ARTICLES

January 18, 2013
The Indian Spring
Fareed Zakaria, Washington Post
In the past, mass agitations in India have been about religious nationalism or caste identity, or they have been demands for preferential treatment from the government. The more recent protests have a different character: They... more ››
January 17, 2013
Will Kashmir Spark a Nuclear War?
Ahmed Rashid, NY Review of Books
For nearly a decade, despite constant tensions—and even large-scale terrorist violence—between Pakistan and India, there is one thing the two nuclear-armed states have kept largely intact: their 2003 cease-fire agreement in... more ››
January 16, 2013
America Sparks Asian Arms Race
Richard Heydarian, Asia Times
Maritime disputes with Southeast Asian states are poised to intensify on the watch of new Chinese leader Xi Jinping and as Japan and India deepen their strategic engagement. The chances that patient, peaceful diplomacy will win... more ››
January 18, 2013
India Needs a New Pakistan Strategy
Sumit Ganguly, The Pulse
The debate about what New Delhi should do next with Islamabad has become completely polarized, with both sides equally misguided. more ››
January 19, 2013
Russia, U.S. Shower India in Weapons
Joseph Hammond, The European
From the Middle East to the Magnitsky affair (when a Russian lawyer was arrested and later died in jail in 2009 after allegedly uncovering a vast network of corruption), Russian and US officials continue to see past each other.... more ››