Expert Zone

Straight from the Specialists

Some pain needed for long-term growth story


(Rajan Ghotgalkar is Managing Director of Principal Pnb Asset Management Company. The views expressed in this column are his own and do not represent those of either Principal Pnb or Reuters)

The senior Bush’s call for a new world order following the end of the Cold War began unravelling authoritarian regimes which formed its delivery mechanism around the world.

In India, it meant dismantling the command economy influenced by the Soviet model, enforced through the government’s involvement in business and concentration of power at the centre.

It is hardly surprising that Indian polity, most of which leans left-of-centre, is opposed to reforms leading to economic liberalisation. After all, as the main beneficiaries of that set-up, their very political identity is at stake.

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