India’s identity crisis

India’s business leaders are increasingly concerned about the will of its political elite to drive economic growth. They see a country trapped between its past and its present, and a financial system that is quickly losing its reputed potential to be a leading global market. What can stop the rot?

Arun Lohia is a hard man to see. Not simply because he is busy. He’s also weary: ground down by bureaucrats; exhausted by hostile trades unions. In the fading summer sun, he almost seeks to disappear into his grey office wallpaper – India’s own bleak version of Philip Larkin’s Mr Bleaney, existing only in a surreal form of corporate half-life.

“There’s this word in Hindi: ‘Gherao’,” Lohia says, spreading his hands almost meditatively. “It means encirclement, confinement.

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