To understand the impact of Modinomics, it is imperative to first contextualize it. From a time when the Indian per capita income was higher than the British per capita income to the dubious distinction of being an extremely poor country down the millennium, the Indian economy has suffered a longstanding decline and is only now beginning its climb back upwards.
While the broad reasons impacting India’s present economic growth include exogenous factors such as the demographic dividend and global technological benefits, the key factor is the thrust by Modi government on good-governance.
As India now enters the functioning-government stage with a more rule-based economy being put in place, the tough economic decisions and market reforms undertaken by the Modi government pave the way for India’s resurgence as an economic superpower.
In his Srijan Talk on “Understanding Modinomics,” Harsh Gupta explains why he feels the Indian economy is so bullish under the Modi government.