India and Pakistan | Global Capitalism Will Enrich India

For several decades following independence in 1947, India pursued socialist-oriented policies in which the state planned development projects, restricted free trade, and regulated businesses. Beginning in 1991, however, India has taken several steps to deregulate business and open itself up to foreign trade and investment. In the following viewpoint, Gurcharan Das, a business consultant and journalist, argues that such reforms have benefited India by unleashing economic growth and creating a rapidly growing middle class. Das is a former corporate executive in charge of Procter &...

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