Backed by strong domestic demand and prudent financial-sector regulation, the Indian economy has sailed through the global economic downturn in stride and is expected to grow at a respectable rate at or above 7% in 2012. However, new challenges have emerged in parallel, such as spiralling inflation, a devalued rupee, delays in critical reforms and the attendant waning investor confidence. And, as India’s “summer of discontent” last year demonstrated, anti-corruption sentiment reached unprecedented levels, leading to one of the largest civil society movements since Indian independence. After an intense year of national debate, the 2012 India Economic Summit therefore was an opportunity to outline a blueprint for a post-crisis India that could be a new model of pragmatic, practical and effective governance, and that could rebuild trust in both the region and society to link leadership with livelihood.
Published on: Tuesday 13th of November 2012