How strong is India’s economy?

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How strong is India’s economy?


India's economy is growing rapidly, with an annual growth rate of 6-7%. It is projected to become the world's third-largest economy by 2027, behind the U.S. and China. Prime Minister Narendra Modi is expected to secure a third term, solidifying his position as India's most influential leader since Nehru.

Modi's economic policies have focused on building massive infrastructure, promoting services exports, and implementing a new welfare system with digital transfer payments. This has helped reduce poverty and expand the middle class. However, the country still faces the challenge of generating mass employment, as only about 100 million out of a working-age population of 1 billion have formal jobs.

To sustain growth, India needs to transform sectors like education, agriculture, and urban development, which will require cooperation from state governments and social groups. Modi's confrontational politics have alienated many of these stakeholders. The article questions whether Modi will be able to temper his autocratic tendencies and foster a thriving knowledge economy that rewards independent thinking. If not, his mission of national renewal may not live up to its promise.


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