This Article First Appeared In The New York Times On Mar 29, 2023
Is India the world’s next tiger economy, poised to succeed a slowing China as a pillar of the global economy?
That wouldn’t be anything new, simply a recovery of its traditional position. One economic historian estimates that as recently as 1700, India accounted for about 24 percent of global G.D.P., similar to the share now of the United States or Europe. But today India makes up just 3 percent of global G.D.P., up from 1 percent in 1993.