Analyses | 04 September 2006

Roaring tiger or lumbering elephant?

After years of economic underperformance, the Indian economic model has been transformed, and with it, India's growth performance. So much so that the last two years have brought both a widespread rethink on India’s prospects and a wave of foreign portfolio investment. 

Mark Thirlwell

  • Mark Thirlwell

After years of economic underperformance, the Indian economic model has been transformed, and with it, India's growth performance. So much so that the last two years have brought both a widespread rethink on India’s prospects and a wave of foreign portfolio investment. 

Mark Thirlwell

  • Mark Thirlwell
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Executive Summary

This new-found optimism received something of a setback earlier this year, when there were sharp falls in Indian stocks markets. In a new paper that updates the analysis in his Lowy Paper 'India: the next economic giant', Mark Thirlwell takes another look at India's development model, evaluating both its strengths and its weaknesses and highlighting the idiosyncratic nature of India’s development path.