Need to boost investor confidence for sustainable, transformative growth

India needs to show investors not only that they can achieve decent returns in the country but that their money is safe here

India’s official statisticians reported 13.5 per cent growth in the April to June quarter of this year. This meant that the country whooshed into top place as the world’s fastest-growing large economy — and, incidentally, replaced Great Britain as the world’s fifth-biggest economy.

Unfortunately, that’s where the good news about India’s growth prospects ends. Those GDP numbers were actually a disappointment, given that the same quarter last year saw India shut down amid its devastating Delta-driven Covid wave; a Bloomberg survey of economists expected growth in excess of 15 per cent.

Over the past three years, in fact,