Despite imposing a disastrous “currency reform” that impoverished poorer people and small businesses across his nation, Indian Prime Minister Narendra Modi won big in five state elections a week ago. There the BJP forged a broad coalition to overcome caste politics and staged an effective grassroots campaign. Modi parlayed a mix of business friendliness, reputation for competence, and Hindu nationalism into a stunning national victory in 2014, humiliating the long-dominant Congress Party. Indians long languished in poverty as their leaders followed a collectivist, dirigiste economic strategy. There were brief attempts at economic liberalization in 1966 and 1985, but both elite and popular resistance remained strong.

Source: Forbes March 23, 2017 07:52 UTC