Economic reform in India

By Alex Singleton | 19 June 2005

Yesterday on Sky News, I was interviewed (by Juliette Foster, pictured) on the subject of economic liberalization in India. I pointed out that after independence, India followed the conventional wisdom on development economics at the time and protected itself from outside competition. The result was that the economy stagnated and many Indians starved. Since liberalization started, millions of Indians lifted out of poverty and India has been a quickly growing economy.

The very fact that we do not talk of the need for a Commission for India or a Live8 for India is a testament to the success of liberal economic policies in the country.