India's Remarkable 30-Year Journey from Economic Crisis to Global Financial Power

India faced political and economic crisis in May 1991 with the death of its leader and near economic collapse
External debt was 23% of GDP and forex reserves could sustain only 3 weeks of imports
In July 1991, the new PM opened India's economy to the world with reforms
Today, India is hosting the G20 summit as a global financial power after its dramatic journey
India transitioned from a financial underdog to global stardom through hard work and innovation over 3 decades

indiatimes.com

Relevant topic timeline:

8/19/2023

PM Modi reacts to Moneycontrol's 'Bullish on India' campaign, hails India's economic resilience

### Summary Moneycontrol's 'Bullish on India' campaign highlights India's thriving economy and promising future, amidst global challenges. ### Facts - 💪 India's economy shines as a beacon of hope in challenging times, with robust growth and a resilient spirit. - 🌟 Prime Minister Narendra Modi praises India's economy, emphasizing the importance of continuing on this upbeat path and ensuring the well-being of the country's 1.4 billion people. - 📈 The 'Bullish on India' campaign showcases India's ability to sustain economic growth across diverse sectors and raises awareness of the country's potential during a global economic slowdown. - 🌍 This campaign aims to document India's development, metamorphosis, and advancement, capturing its evolution and progress.

9/2/2023

The mega-trends that are putting rocket fuel into Modi’s new India

India's recent achievements and economic growth have positioned it as a rising global power, but the country must address its challenges in poverty, job creation, education, and inequality in order to fully realize its potential.

9/6/2023

Is India the World’s Next Great Economic Power?

India's economic rise is seen as inevitable due to factors such as a consumer boom, context-appropriate innovation, a green transition, a demographic dividend, access to finance, major infrastructure upgrades, policy reforms, geopolitical positioning, and a diaspora dividend, although challenges such as unbalanced growth, unrealized demographic potential, and unrealized ease-of-business and innovation potential still need to be addressed.

Topics

Posted 9/8/2023, 3:05:50 PM