The irony of the India story

Whenever I meet investors around the world, the most pressing question is: what happened to India? This was an economy that grew at nearly eight per cent for an entire decade (2003-2013). So much was expected from it. It was supposed to prove to the world that even a noisy, chaotic and populous democracy could deliver high growth. It was seen as the answer to China and its authoritarian economic model. Though everyone knew that India had certain institutional flaws, they were willing to cut it some slack in the hope that the country would succeed.

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