India’s economic growth has been a top priority at both the national and state levels during Narendra Modi’s first term as prime minister. However, data released in early 2019 by the Central Statistics Office showed that GDP growth has been slowing. Progress on economic reform is constrained by a lack of consensus, across the political spectrum, about its nature and scope. The previous administration has undertaken some ambitious reforms, such as introducing a goods and services tax, and made headway in speeding up infrastructure projects. But parts of the economy remain unreformed, and questions persist about the sustainability of economic growth.
Following the May 2019 elections, it is time for a policy review and to take stock of the country’s reforms and priority areas. Where were gains made and where are reforms faltering? What structural changes are needed for India to grow sustainably? Are reforms sufficiently focused on social and environmental issues as well as economic growth? Can policies balance a strong social development agenda against the need to be globally competitive? And how has India fared in its promises?
The India Summit 2019 will bring together policymakers, business leaders from domestic and international companies, and respected political and economic commentators, to evaluate India’s progress and discuss the way ahead. The event will throw the spotlight on how India is performing on socio-economic issues from attracting investment and supporting agriculture to tackling unemployment and reforming energy policies.