The Elephant That Became a Tiger 20 Years of Economic Reform in India
Published By: Center for Global Liberty and Prosperity | Published Date: July, 20 , 2011A foreign exchange crisis in 1991 induced India to abandon decades of inward-looking socialism and adopt economic reforms that have converted the once-lumbering elephant into the latest Asian tiger. India’s gross domestic product (GDP) growth rate has averaged over 8 percent in the last decade, and per capita income has shot up from $300 to $1,700 in two decades. India is reaping a big demographic dividend just as China starts aging, so India could overtake China in growth in the next decade.
Author(s): Swaminathan S. Anklesaria Aiyar | Posted on: Oct 28, 2016 | Views()