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The Indian Election and the Country’s Economic Future
Having recently overtaken its former colonial master to become the world's fifth-largest economy, India's star certainly appears to be rising. But if the country remains committed to the current government's development strategy, the economy could lose its momentum well before achieving escape velocity.
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CHICAGO – There is a buzz in India today – a sense of limitless possibilities. India has just overtaken its former colonial master (the United Kingdom) to become the world’s fifth-largest economy. If it maintains its current growth rate of 6-7% per year, it will soon overtake stagnant Japan and Germany to take over third place.