[Asian Steel Watch] Vol.4 (2017.12)
On the Cover Understanding Incredible India
India is undergoing a great transition as the post-reform generation strikes out into the world. This generation supports growth-oriented domestic economic development creating job opportunities and a strong India internationally. At the onset of the Modi administration in 2014, India’s economic paradigm shifted its focus from distributive or inclusive growth to growth-oriented development. From a structural perspective, India is highly likely to continue to expand at least until 2025-30. Mainly based on the “Hindi belt” and “cow belt,” India is establishing a Hindu state. For a short term, Hindu fundamentalists’ expanded influence is helpful to consolidate power and implement various measures to stabilize the regime. Over the long term, it will pose a threat to the country as it pursues stability, integration of society, and national development. Depending on how the Modi administration wields this double-edged sword, the meaning of Incredible India will change substantially in the future.