FT’s Amy Kazmin has written an insightful piece on
economic reforms in India:
She notes:
“As a prime
ministerial aspirant, Mr Modi was imagined by many to be a potential Margaret
Thatcher-style reformer, who would boldly tear down the remains of India’s
Nehruvian socialist state, even risking run-ins with powerful vested interests.
He may yet. Presently, though, his team’s main priority is cutting through the
dense thicket of niggling rules, regulations and reporting requirements that
have contributed to India’s reputation as a fiendishly difficult place for
business.
Though it may seem
like mere tinkering with government machinery, analysts say making life easier
for companies is a logical first step towards Mr Modi’s goal of attracting more
investment to job-generating manufacturing industries.”