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India's Modi looks to new economic playbook as risks mount

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After world-beating economic growth last year, India's policymakers are scrambling to head off a sharp slowdown as worsening global conditions and domestic confidence wipe out a recent stock market rally.
The article from Reuters discusses the economic challenges facing Indian Prime Minister Narendra Modi as he approaches the 2024 elections. Despite Modi's previous success in driving economic growth through infrastructure development and welfare programs, several risks are mounting. These include a slowdown in global demand affecting India's exports, persistent high inflation, and a widening current account deficit. Modi's government has been criticized for not doing enough to boost private investment, which remains sluggish. Additionally, geopolitical tensions, particularly with China, and the need to balance relations with both Western countries and Russia amidst global conflicts, add complexity to India's economic strategy. Modi is now looking at a new economic playbook that might involve more aggressive reforms, enhancing domestic manufacturing, and possibly rethinking trade policies to navigate these challenges while maintaining his image as a strong economic leader.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/india/indias-modi-looks-new-economic-playbook-risks-mount-2025-01-08/ ]