Tag Archives: Modi

India and Narendra Modi: Freedom’s New Trumpet?

India and Narendra Modi: Freedom’s new trumpet?

What so many seem loath to accept is that India’s voters have dealt a massive, perhaps even final blow to a near 100-year failed investment in socialist economics. Modi’s [political party] and Modi himself are both emphatically pro-free market and were decisively elected in large measure due to their promise to free up India’s economy. Modi’s free market credentials were hard for even his harshest critics to gainsay. As three-term Chief Minister, or governor, of India’s most prosperous state Gujarat, Modi showed India and the world that indeed it was possible to replace the sclerosis of India’s hidebound bureaucratic morass with a thriving growth and prosperity.

India’s population has strongly recognized the value of freedom and individual achievement and rejected big government. If only this lesson could be learned here in the U.S.

In a sweeping election victory on Friday India voted a new pro-business party and prime minister into power.

India goes capitalist: In a sweeping election victory on Friday India voted a new pro-business prime minister into power.

The victory was a landslide, including a major sweep in parliament.

The long entrenched but now defeated Congress Party had begun moving away from socialism back in 1991, which produced a booming economy for India.

Prime Minister Singh launched reforms in 1991 as finance minister that opened India’s socialist economy to global capital, but his spell in the top job ended marred by corruption and a floundering economy amid mounting policy paralysis. He has already bid farewell to his staff after ten years in office.

The new leader, Narendra Modi, is expected to accelerate this effort.