India's Next Economic Leap: Beyond Tariffs and Treaties

• India's 1991 economic reforms were a response to a Balance of Payments crisis, leading to liberalization under duress.
• A proposed US-India trade treaty reportedly fell through due to PM Modi's refusal to call President Trump, sparking debate.
• Analysts suggest converting the trade treaty challenge into an opportunity for the next wave of economic reforms.
• The article argues for increasing the 'size of the pie' through entrepreneurship, rather than just redistribution, citing China's growth.
• PM Modi is urged to leverage current political alignment (double-engine sarkar) to implement radical economic changes, empowering bureaucracy and invoking nationalism.

Why It Matters: India needs radical economic reforms, leveraging political alignment and bureaucratic strength, to achieve its next growth phase.