India Is Still the Best Emerging Market



Comments (4)

  1. S,K,LIMAYE says:

    Mr Modi keeps on boasting of ‘1.2 billion Team India’ and fails to acknowledge that in even slightly difficult times this number is a huge liability. His pet project of ‘Clean India,’ launched in October last year, is a failure as 71% of 300.000 people covered in a survey felt that the towns where they live have not seen any change. Modi does not seem to realize that even a slightly deficient monsoon, like this year, stresses the natural resources and there are water cuts in cities and food production suffers. Yet he never speaks about the dire need to control this time bomb of population explosion!

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    Martin Hutchinson Reply:

    India’s huge population is indeed a major difficulty. Though, even worse problems are faced by Egypt, with 85 million people on very little fertile land. It is at least not getting worse too quickly, as greater wealth reduces population growth. But, as Indira Gandhi found in the 1970s, policies to deal with the problem directly are highly coercive and prove to be very unpopular. Hence, dealing with it at the margins and improving water conservation infrastructure is about the limit of what Modi can reasonably do.

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  2. Naveen Sreedevan says:

    Martin, Modi ji is all talk and no work. He has in the last 15 months gone on 29 foreign trips, and apparently the estimated cost of these trips total Rs 200 crores ($35 million).
    He is tech savvy, so ideally he should use digital media such as Skype and web conference to interact with others rather than going shopping!

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    Martin Hutchinson Reply:

    He’s certainly no Vajpayee. But his international trips raise India’s profile and certainly his visit to Silicon Valley will help attract capital. I agree with you, however, that there is much more he could be doing, especially in fully dismantling the “permit raj.” Certainly, he gets no more than a B plus so far. Where he ends up will depend on future developments.

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