This Article First Appeared In The Hindustan Times On May 31, 2023
India is in a rare moment of equilibrium. It has begun to reap its demographic dividend. Remnants of red tape and corruption that slowed down its rise for decades are waning. The stark inequality that shackled the democracy of 1.4 billion people has started to thaw. The global recession that could torpedo India’s growth plans pre-2014, now face a more resilient economy that has learned to pivot, and spin them into opportunities for growth. India’s economy is no longer at the receiving end of the global order but is in the fray of the world’s most powerful future economies, with an unmatched growth rate. The International Monetary Fund (IMF) says India and China will account for 50% of the total world gross domestic product growth in 2023, against 10% for the United States (US) and the Euro Zone.