August 19, 2014

India Isn't 'Open for Business' Yet

William Pesek, Bloomberg

The Associated Press

In retrospect, expectations that India's prime minister would revolutionize a troubled economy overnight were wildly overblown. But three months on, even some Modi skeptics may be wondering if they have been too easy on the great modernizer from Gujarat. Since taking office, Modi has scuttled a global trade deal, sidestepped much-needed subsidy cuts, and refrained from letting foreigners hold majority stakes in key domestic sectors. He remains vague about the broader structural reforms partisans hoped he would inaugurate.

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TAGGED: India, Narendra Modi

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