Will seismic political shift in India finally deliver on country's full economic potential?


For decades India has promised but not quite delivered. A corrupt political system, bureaucratic inefficiencies, masses of red tape, and protection afforded to local firms has hobbled economic growth in the world's largest democracy with the world's second largest population.

Finally, however, things might be about to change. In electing Narendra Modi and his Bharatiya Janata Party (BJP) to power in recent national election, multi-cultural India has put its faith in a Hindu nationalist, previously banned from traveling to the United States, and given his party a mandate for sweeping economic reform. With a parliamentary majority, the BJP will now be able to push ahead with reform started 23 years ago by the previous Prime Minister, Manmohan Singh, in his role as Finance Minister, but which has stalled in recent years, and in doing so give a boost to industries from auto through to telecom.
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