Manmohan Singh is no stranger to economic reform. In 1991, following the balance of payments crisis, Singh, then India’s finance minister, freed his country from the so-called Licence Raj, the tangle of regulatory red tape that had long been the cause of economic stagnation.
More than 20 years later, after a period of rapid growth and numerous bumps in the road, prime minister Singh has underlined his credentials as a reformer by unveiling measures aimed at enhancing India’s global competitiveness.
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