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India's economic reforms changed the course of industries from IT and pharma to retail and aviation. Here's a look at the biggest winners and the challenges that continue today
Thirty-five years after the landmark reforms of 1991, the numbers show how India's economy, businesses and households have changed - and why the next phase of reforms will matter just as much
Updated On : 27 Jul 2026 | 7:52 AM ISTThe government responded to a grave foreign exchange crisis by progressively liberalising, rather than perpetuating restrictions on access to foreign exchange and imports
Updated On : 26 Jul 2026 | 11:50 PM ISTSunil Bharti Mittal says the 1991 reforms transformed India's business landscape, paving the way for Airtel, and calls for continued reforms to sustain growth
Updated On : 26 Jul 2026 | 11:22 PM ISTIndia's pharma industry must pivot from global leadership in generics to innovation, backed by stronger policy, R&D funding and regulatory reforms, says Satish Reddy
From generics to global leadership, India's pharmaceutical industry has transformed since 1991. Its next challenge is becoming a global hub for breakthrough drug innovation
As long as we have corporate leaders who understand the power of AI and ensure that their employees are well trained, I do not see any problem, says Infosys cofounder N R Narayana Murthy
In 1991, India faced one of the worst economic crises in its history. With foreign exchange reserves nearly exhausted and the country on the brink of default
Thirty-five years after the 1991 reforms, India has grown dramatically but unfinished reforms, weak public services and job creation remain major challenges T N Ninan
Thirty-five years after the 1991 reforms, India needs a new reform wave focused on deregulation, stronger state capacity, judicial efficiency and faster growth
The journeys of 26 brands, mostly since liberalisation, show how brands can drive trial and loyalty
But not too many will be surprised if RBI Governor Sanjay Malhotra plays the Santa Claus in December, bringing an early Christmas
While the liberalisation led to higher economic growth, it didn't leave the subsequent governors without any challenges
India should consider broader trade liberalisation
Business Standard BFSI Insight Summit brings together thought leaders from India’s financial landscape, including regulators, leading banks, NBFCs, mutual funds, and insurance companies.
In a letter, philanthropist and industrialist Ratan Tata conveyed his admiration for former Prime Minister PV Narasimha Rao's "outstanding achievement" in initiating vital economic reforms in India
Govt should not go slow on disinvestment
Balancing financial incentives with trade liberalisation is crucial for making India's manufacturing sector globally competitive
The celebrations will start on September 17, 2022, and end on September 17, 2023
Liberal ideals of liberty, equality and fraternity cannot be optimised except in small communities