India Needs More Big Businesses
While India has proven that it can generate unicorns, it has so far struggled to nurture world-class big businesses capable of driving growth and investment. Unless this changes, India is unlikely to become an economic superpower on par with China.
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SEOUL – At a time of growing doubts about China’s economic prospects, India’s rise has been attracting increasing attention, with some predicting that the country will become the developing world’s next economic superstar. Whether you believe India can be the “next China,” however, may depend on whether you subscribe more to “young” or “old” Schumpeterian logic.