 "India had started to turn corner around the time Business Standard was born. Attention to under-addressed areas can now put it on course to becoming a truly high-growth, ‘high-development' economy")
It may not have seemed so at the time, or at least not in the way it might be understood today, but 50 years ago India reached a turning point. At the time, there was an economic crisis and political turmoil, with the decisive action being the imposition in 1975 of Emergency rule by Indira Gandhi. But that was overturned in less than two years. What proved more long-lasting was the new direction in economic policy, barely noticed at the time, and following that, an end to India’s long-term under-performance as an economy.
Until then, the country
