India's Uneven Road to Economic Recovery

Abstract

Since the 1980s, India has pursued a strategic policy of going east, which was upgraded to going east in the 2014 Action policy. Through these strategies, India's economy and overall national strength have increased through the progress of time and changes in world conditions. And in this, there are also a lot of difficulties and obstacles. Since pioneering economic reforms in the 1990s, India has come a long way from being a poor former British colony to a giant among emerging economies. For now, Modi's government is firmly in power and the economy is still growing at a decent rate despite the impact of inflation. So, the Modi government is expected to seize the opportunity to make a big push for its vision. However, the challenges should not be ignored. The risks will arise as it changes the shape of India's economy and its industrial structure in many ways. With the change of policy, India's attitude and relations with other countries, especially those around India, have also changed significantly. At the same time, the differences between the traditional Indian regime and the current economic system can also cause problems when it comes to policy evaluation since Indian laws and policies have inherited the British system. These British Rules also make it difficult for India to implement the new policy. This paper studies the policy development background of India in the past 40 years, analyzes India's policies in different periods to judge and put forward opinions and then puts forward possible suggestions.