Abstract
Since the Modi administration came to office in 2014, it has launched a range of policies and measures aimed at revitalizing the economy and reforming government. These have largely been “supply side” reforms, promoting a transition in Indian economic development strategy towards a structural adjustment. Following two years of implementation, the Modi Administration has seen some successes in advancing transition in the country’s economic development strategy, but reforms have also prompted controversy within the international community related to the sustainability of Indian economic growth at present levels, and around the question of whether China-India economic competition has reached a turning point. Through a review of the history of India’s economic development, this paper summarizes and analyzes the characteristics of the Modi Administration’s economic development strategy, and considers its appropriateness and insufficiencies vis-à-vis India’s ongoing economic challenges. As we know, the development strategy will become the direction and guidance of a country’s macroeconomic development in the long term once it is formulated, so this study of the Modi Administration’s development strategy and its implementation will contribute to analyzing and predicting India’s economic development prospects and its impact on China to a certain extent.
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Notes
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Li, Y. (2017). India’s Transition of Economic Development Strategy Under the Modi Administration. In: Wang, R., Zhu, C. (eds) Annual Report on the Development of the Indian Ocean Region (2016). Research Series on the Chinese Dream and China’s Development Path. Springer, Singapore. https://doi.org/10.1007/978-981-10-4693-3_7
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