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Now Modi’s government has modernised it must make growth sustainable, inclusive and fair
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This in an interesting article, highlighting the fact that India is now the most populous nation in the world, and potentially the source of massive growth in the next few years.
However, Nouriel Roubini notes that although it appears to be on the point of becoming a major economic power, there are still a number of structural issues that require tackling: the power of its successful conglomerates and their ability to influence economic policy in their self-interest; the high levels of protectionism that remain; an increased focus on higher-value added, and more innovative sectors of the economy rather than simply labour-intensive sectors.