India is currently going through its general elections, with Prime Minister Narendra Modi boasting about the country hosting the largest election in the world while also being the fastest-growing major economy. With a GDP of $3.5 trillion, India now ranks as the fifth-largest economy globally, surpassing that of its former colonial ruler, Britain. The government is heavily investing in various sectors such as roads, railways, ports, energy, and digital infrastructure, attracting the attention of many multinational companies looking to diversify their supply chains by including India in their strategies.
Despite its economic progress, India still faces challenges such as underemployment and low participation of women in the workforce compared to global standards. Private investment in India is also lower than it was before the 2008 global financial crisis, highlighting the need for sustained efforts to maintain economic growth. Projections suggest that India’s GDP could reach $6 trillion in the next five years, solidifying its position as the third-largest economy in the world. However, India has a history of experiencing moments of premature triumphalism followed by setbacks.
Six books offer insights into the country’s complex economic landscape and the mixed record of Mr. Modi’s economic policies. These books provide a deep dive into various aspects of India’s economy and offer valuable perspectives on how to navigate its challenges and opportunities moving forward. Whether you are an investor or simply interested in learning more about one of the fastest-growing economies in the world, these books are sure to provide fascinating insights into India’s economic journey.