In the early 1990s, the Indian economy was on the verge of a collapse. Hoping to stem the tide, the government, headed by Prime Minister P V Narasimha Rao, launched a series of wide-ranging reforms. These reforms, which largely focused on product markets, would end up radically altering the structure of the Indian economy. Over the next two decades, India would emerge as one of the fastest-growing economies in the world. A far cry from the days of languishing at low single-digit growth rates.
As India celebrates the 25th anniversary of that epoch-making moment, Business Standard looks at the distance the country has travelled through the lens of key indicators.
