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The world may expect great things from India, but as extensive reporting reveals, Indians themselves turn out to be deeply skeptical about their country’s potential. That attitude, plus New Delhi’s dysfunctional foreign-policy bureaucracy, prevent long-term planning of the sort China has mastered -- and are holding India back.
As recent protests indicate, Indians increasingly believe that their government is letting them down. New Delhi's faults -- criminalism, cronyism, and corruption -- are well known. Less understood is that these problems result from positive developments, that they will get worse before they get better, and that the solution is not less democracy, as some have suggested, but even more.
Rooting out poverty is difficult. In the case of India, however, addressing landlessness has already improved the lives of millions and sparked inclusive and sustainable economic growth.
Late this month, India's Congress Party created a new post -- party vice president -- and then named Rahul Gandhi to it. The effort, led by party elite, was meant to shore up the status of this scion of the powerful Gandhi-Nehru clan and place him on the path to the prime ministership. In a maturing Indian democracy, though, such tricks may no longer work for Gandhi or for the party.
The Hindu-nationalist leader Narendra Modi's recent election sparked a good deal of controversy. It also sparked an open and substantive debate about economics, liberalism, and social welfare in Gujarat and across all of India -- a rarity in developing democracies and a positive thing as India gears up for nationwide elections in 2014.
The most talked-about global economic trend in recent years has been “the rise of the rest,” with Brazil, Russia, India, and China leading the charge. But international economic convergence is a myth. Few countries can sustain unusually fast growth for a decade, and even fewer, for more than that. Now that the boom years are over, the BRICs are crumbling; the international order will change less than expected.
Most explanations of the massive blackout in India point to extraordinary circumstances and inadequate supplies of electricity. In fact, the central and state governments' mismanagement of the supplies that do exist deserves much of the blame.
Just a few years ago, India seemed on the brink of becoming the world’s next great power. Today, its future appears less certain. Although some have blamed the global economic recession, the real problem is domestic -- namely, the centralized, secretive, and arbitrary political culture that pervades New Delhi.
Jonathan Tepperman talks to Ruchir Sharma, head of emerging markets at Morgan Stanley, about the future growth potential of the world's leading emerging markets.
Indian elites are cheering their country’s newfound status and influence. But two recent books reveal the ugly underbelly of India’s success story. A vast gulf has opened up between the rich and the poor, corruption suffuses every aspect of life, and the country’s political leaders lack the vision needed to turn this would-be world power into an actual one.
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