Global economic stagnation is no reason for India to lower its ambitions, though maintaining the growth it needs will require the country to rethink its economic approach. That means looking to regional and domestic demand, strengthening the country's macroeconomic institutions, and taking up the fight for an open global system.
MUMBAI – The global economy’s slowdown has not spared India. Sustaining the growth that it needs to continue to lift millions of people out of poverty will require rethinking its economic-policy approach. If India is to succeed, it will have to deepen regional and domestic demand, strengthen its macroeconomic institutions, and join in the fight for an open global system. Diminished expectations abroad should not lead India to lower its ambitions.
MUMBAI – The global economy’s slowdown has not spared India. Sustaining the growth that it needs to continue to lift millions of people out of poverty will require rethinking its economic-policy approach. If India is to succeed, it will have to deepen regional and domestic demand, strengthen its macroeconomic institutions, and join in the fight for an open global system. Diminished expectations abroad should not lead India to lower its ambitions.