A change in direction

When Prime Minister Narendra Modi first came to power in 2014, many market participants were convinced that this was India’s Thatcher moment. We would see a push for growth through policy liberalisation, reducing government involvement in the economy and a more stable policy framework. It must be said that most investors have been disappointed, as rebuilding growth in India has been more challenging than they thought. The Indian economy has disappointed over the last few years, unable to regain its growth vigour. The government has also not been as pro-business as most had assumed......

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