Sonal Varma, India Chief Economist outlines her positive outlook on India's approach to growth.
"India has taken a ‘many small steps’ approach to reforms where changes are micro rather than macro in scale. This approach is more pragmatic for a democracy of India’s size. The government has initiated changes on multiple fronts – better governance, improved ease of doing business, boosted public investment in infrastructure, less corruption, and greater financial inclusion. All these changes are building foundations for a more sustainable growth uptick as they will lift India’s potential growth over the medium-term."
India's new leaders are long-sighted, focusing on reforms and judicious policies. As a result, more gradual but a more sustainable multi-year expansion can be seen below.
And the reforms are gradually progressing and adding up.
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