Narendra Modi’s flagship growth scheme is off to a sluggish start
Without improvements, it risks wasting trillions of rupees
In the early 1990s India abandoned the principles of swadeshi, or self-sufficiency, that had guided its policies since independence. Subsidies were scrapped; import levies tumbled. By 2014 the average tariff had fallen to 13%, from 125% in 1991. Over the same period, exports soared.
Explore more
This article appeared in the Finance & economics section of the print edition under the headline “Get rich slow”
Finance & economics May 18th 2024
- America is in the midst of an extraordinary startup boom
- Biden outdoes Trump with ultra-high China tariffs
- How Jim Simons revolutionised investing
- Joe Biden, master oil trader
- Narendra Modi’s flagship growth scheme is off to a sluggish start
- The property firm that could break China’s back
- Diego Maradona offers central bankers enduring lessons
From the May 18th 2024 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Finance and economics
China’s last boomtowns show rapid growth is still possible
All it takes is for the state to work with the market
What the war on tourism gets wrong
Visitors are a boon, if managed wisely
Why investors are unwise to bet on elections
Turning a profit from political news is a lot harder than it looks
Revisiting the work of Donald Harris, father of Kamala
The combative Marxist economist focused on questions related to growth
Donald Trump wants a weaker dollar. What are his options?
All come with their own drawbacks
Why is Xi Jinping building secret commodity stockpiles?
Vast new holdings of grain, natural gas and oil suggest trouble ahead