Powered by People, Not Policy

Abstract

Unlike that of China, say, India’s growth story is driven by people, not policy. What makes the Indian growth story sustainable is the personal enterprise of millions of Indians and their desire to move up the ladder of life. The role of state policy thus far has been limited, except for the act of economic liberalization in 1991. There is a reason why state policy in India is not designed to favor the market forces: the India that benefits directly from the market forces and the India that votes the government into power are traditionally two disparate sets of people.