India needs another round of economic reforms

For Web Edition-Diplomacy School strikes- Balaji Chandramohan_copy_copyBalaji Chandramohan – 

India observes 68th Independence Day amidst confidence and global attention under the leadership of Prime Minister Narendra Modi.

There are however challenges facing the nation both at home and abroad.

The world will watch with interest what Mr Modi has to offer to his people and the world.

Since taking office in May 2014, there has been a new look at the way India looked at the world and the way it has been observed by the world.

True to his form and nature, he has been a trailblazer in making state visits to far and distance corners of the world, from Fiji to Mongolia, and Canada and Central Asia. In each of these visits, he has asserted India’s growing stature as an economic power house and positioning itself as a politico-military counter-weight to its Asian rival China.

Muscular approach

Under his leadership, the Indian government has showed its muscular approach in dealing with ‘tough countries’ such as China and Pakistan.

His ‘Make in India’ campaign has stimulated foreign investment, with economists and planners expecting a boost to economic growth in the coming years.

However, Mr Modi’s initiatives need more vigour as domestic population begins to demand results justifying their choice of the Prime Minister.

Changing Policies

A solution can be found only if India starts the process of second round of economic reforms.

Despite facing a number of challenges, India has the potential to become a world economic power and become an assertive nation on the international platform.

Balaji Chandramohan is our Correspondent based in Delhi.

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