India Unbound Gurcharan Das

"India Unbound: The Economic Liberation of India," written by renowned author and economist Gurcharan Das, is a seminal work that delves into the transformative economic journey of post-independence India. First published in 1996, the book remains an essential read for anyone seeking to understand the nation's rise as a global economic powerhouse.

India's Economic Transformation

Das provides a comprehensive account of India's economic history, tracing its progress from the Nehruvian era of import substitution and state-controlled industries to the liberalization and globalization reforms of the 1990s. He argues that India's economic stagnation during the decades following independence was a result of misguided policies that stifled private enterprise and erected barriers to foreign investment.

In vivid prose, Das describes the transformative impact of economic liberalization on India's economy. He chronicles the rise of private sector businesses, the expansion of foreign trade, and the emergence of a booming services industry. The author credits these changes to the bold reforms undertaken by successive Indian governments, which dismantled the old regulatory apparatus and fostered a more conducive environment for economic growth.

India Unbound

by Gurcharan Das

4.4 out of 5

Language	:	English
File size	:	1500 KB
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Print length	:	430 pages

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The Nehruvian Legacy

Das dedicates a substantial portion of the book to exploring the legacy of Jawaharlal Nehru, India's first prime minister. While acknowledging Nehru's vision for a socialist India, Das argues that his economic policies, characterized by heavy state intervention and protectionism, ultimately hindered the nation's economic progress.

Das points out that Nehru's socialist policies were based on a belief in the superiority of central planning and a skepticism towards the private sector. As a result, the Indian economy became mired in bureaucratic red tape, cronyism, and a lack of competition.

The Liberalization Era

The 1990s marked a turning point in India's economic history, as the country embarked on a path of liberalization and globalization. Das credits the reforms initiated by then Finance Minister Manmohan Singh with unleashing the potential of the Indian economy.

The liberalization reforms involved the dismantling of trade barriers, the reduction of government controls on industry, and the promotion of foreign investment. These measures led to a surge in economic growth, as private businesses flourished and foreign capital poured into the country.

Challenges and Opportunities

While Das celebrates India's economic transformation, he also acknowledges the challenges that the country continues to face. These include the persistence of poverty and inequality, the need for infrastructure development, and the challenges posed by globalization.

Das argues that India must continue to embrace the principles of liberalization and globalization while addressing the social and environmental consequences of economic growth. He emphasizes the importance of education, healthcare, and social welfare programs in ensuring that the benefits of economic growth are shared equitably.

"India Unbound" is a compelling and insightful account of India's economic transformation. Gurcharan Das provides a nuanced analysis of the factors that have shaped India's economic trajectory, while offering a roadmap for the country's continued economic progress. The book is a must-read for anyone interested in understanding the rise of India as a global economic power and the challenges it faces in the 21st century.

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• Gurcharan Das, India Unbound, Economic Liberation of India, Nehruvian Legacy, Liberalization Era, Challenges and Opportunities

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• India Unbound: The Economic Transformation of India Post-Independence: A Comprehensive Overview by Gurcharan Das

India Unbound

by Gurcharan Das

4.4 out of 5

Language	:	English
File size	:	1500 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
X-Ray	:	Enabled
Word Wise	:	Enabled
Print length	:	430 pages

FREE