India: The next superpower?

Fortune

A year ago, India’s future looked bleak. Anemic economic growth, inflationary fears, and a lack of credible leadership in New Delhi had fostered uncertainty and pessimism. That changed dramatically when Narendra Modi became Prime Minister on the promise of reforming India’s government and jumpstarting its floundering economy.

On Sunday, President Obama begins a three-day visit to India. As he meets with Modi to cement America’s relations with India, all eyes will be on the world’s third largest economy’s potential and what it could mean for investors worldwide. Most signs point to a bright future and to the possibility that India could well become a superpower.

There are challenges, of course. The reforms that Modi has initiated are still in early stages. Political, cultural, and macroeconomic factors could slow down or derail progress; government corruption could be harder to eradicate than imagined, and oversized economic ambitions could crash against the hard…

View original post 708 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s