A Conversation With : Ruchir Sharma, Chief Global Strategist and Head of Emerging Markets, Morgan Stanley On India'
Updated on: 30 Jun 2016
Ruchir Sharma, chief global strategist and head of emerging markets, Morgan Stanley, has released his second book 'The Rise and Fall of Nations: Ten Rules of Change in the Post-Crisis World'. In it, Sharma tries to look beyond the hype and comes out with 10 principles that tell a healthy, growing economy from one that is not. Gargi Gupta asks Sharma how is India doing by this benchmark. On the government's economic agenda:
On India, my line is very clear -- this is the country that has consistently disappointed the optimists and the pessimists. The reforms that the Modi government has carried out qualify among that. The great expectations we had about what the government could do in the first couple of years haven't materialised. Modi had the political capital to do whatever he wanted. But there's been no out-of-the-box thinking. It's been all incremental in nature.
Areas of success:
The one success that the government can claim is FDI. There's undoubtedly been a surge.