1991 Reforms

India’s compounded annual growth rate hasn’t dipped below 4 percent since 1991 reforms

High growth of 8-9% to be driven by manufacturing, urbanisation: Kant

About 5,500 census towns need to have master planning, and sustainable urbanisation is the way forward, which is a huge opportunity to drive growth in India, Kant said speaking at an event for release of report titled "The Rise of India’s Middle Class".

Exclusive | Lower regulatory costs helped NBFCs scale up over the last decade, says IIFL's Nirmal Jain

The reform progress on some of the sectors like agriculture, power, logistics etc. continues to lag the overall reform momentum. This is partly because these reform measures need a broader Centre-State consensus, the Founder of IIFL Group said.

30 Years Of Reforms | What does the report card look like?

India needs to cleanse itself of the socialist brainwash over the decades and step into the freedom of personal choice in regulated markets with little scope of rent-seeking by the powers that be 

A case for going beyond economic reforms

Despite the fact that the Constitution mentions three organs of State — the executive, the judiciary and the legislature — why is the exclusive focus of the reform discourse the executive, as in the Union government, not even state governments? 

30 Years Of Reforms | The gap between aspirations and reality

In 1991, Manmohan Singh spoke of the need to increase the efficiency and international competitiveness of industrial production of domestic entities, as did his successors, but there was little government support that was crucial for realising this objective 

From shop floor to C-suite — economic liberalisation helped shatter many glass ceilings

The expansion of Indian businesses and the entry of MNCs in manufacturing and services opened up opportunities for women to excel.

30 years of economic reforms and environmental degradation

What began as a response to an economic crisis has led to an unprecedented environmental crisis that is set to reverse what little gains we made over the last three decades 

30 years later, the reforms journey continues

Thirty years since 1991, Prime Minister Narendra Modi has finally initiated another mega-round of reforms that rival the 1991 reforms in their scope; most importantly, farm laws and labour codes 

Three decades of reforms and still miles to go

The progress made so far appears patchy and reluctant. Comprehensive and constitutionally-enforceable policies for sustainable development and digital commerce need to be evolved and implemented earnestly, at the earliest 

1991 Reforms | The journey of the Indian stock markets — from Infosys to Zomato

As the country celebrates three decades of economic liberalisation, a look at the ups and downs that the Indian stock markets traversed.

30 Years of Reforms | Change was in the air

Apart from PV Narasimha Rao, who provided the all-important political backing for these reforms, what facilitated the reforms was the unique coming together of a group of like-minded officials 

30 years later, the gaps in India’s financial sector reforms are still glaring

Strengthening financial regulators by granting them more autonomy should be part of the priority areas of the next phase of financial sector reforms 

KV Kamath: The runway for India is another 25 years, digital supercycle is going to come like a wave

The former chief of ICICI Bank and New Development Bank is particularly bullish on what he calls the 'digital supercycle' that has already created millions of jobs and spurred consumption, something that India hasn't yet fully factored in

Digital Super Cycle is creating millions of jobs in India, and we are not counting it: KV Kamath

From the bleakness of the pre-reforms era to the digital super cycle today, India has come a long way. KV Kamath, former President of the New Development Bank and one of India Inc's tallest leaders believes the digital super cycle is already having a huge impact on India but we haven't reckoned with it yet. He also spoke about why Fintechs will find it hard to succeed.

An alphabet soup of the Indian economy pre-reforms, and after

The Indian economy before liberalisation had its own unique set of terms and jargons. Some have gone out of fashion, others have hung around in new avatars and disguises, yet others have shot in prominence again while we have made up a few to cover all 26 letters of the alphabet. Here’s a look

30 years of liberalization: S Naren on wading through irrational markets and foreign investor frenzy of the 90s

The ED & CEO of ICICI Mutual Fund recalls that most of the IPOs back then were just Rs 3 crore in size

If 1947 saw India’s independence, 1991 witnessed independence of economy: Ad Guru Piyush Pandey

Piyush Pandey, Chairman Global Creative and Executive Chairman India, Ogilvy, talks about the transformation seen in the advertising industry and the economy at large following the 1991 reforms.

Stock market, not mutual funds, was more in focus in early 90s: UTI's Vetri Subramaniam

The Group President & Head of Equity at UTI Mutual Fund, Vetri Subramaniam, takes us through the revolution in the equity markets post 1991 reforms and tells us how UTI has stayed relevant over the decades

Montek Singh Ahluwalia on why the 1991 reforms were a watershed moment for India's economy

Former Planning Commission Vice-Chairman Montek Singh Ahluwalia was the Commerce Secretary when then Finance Minister Manmohan Singh presented the 1991-92 Union Budget. Soon after that, Ahluwalia moved to North Block to become the Economic Affairs Secretary and then the Finance Secretary, assisting Singh and Prime Minister PV Narasimha Rao in implementing the reforms. In an interaction with Moneycontrol’s Arup Roychoudhury, Ahluwalia reminisces about his role as part of Rao’s inner-circle of officials, the challenges they faced, and the work they had to put in.

It took us 3 years, 50 visits to Delhi to import a computer. Magic wand of 1991 reforms liberated Infosys: NR Narayana Murthy

As India marks 30 years of liberalisation on July 24, Infosys founder NR Narayana Murthy spoke to Moneycontrol on how the context of 1991 changed the aspirations of Infosys in one go, the hurdles that went away and the next wave of reforms that can help galvanise India.

In 1990, there was an offer to buy us out for Rs 2 crore. Infosys has Rs 6.5 lakh crore m-cap now: NR Narayana Murthy on 1991 reforms

As India marks 30 years of economic liberalisation on July 24, Infosys founder NR Narayana Murthy spoke to Moneycontrol on how the context of 1991 changed the aspirations of Infosys in one go

Keki Mistry on 1991 reforms: The bedrock keeping India's fundamentals strong despite COVID

HDFC Limited Vice-Chairman and CEO, Keki Mistry, talks about how the 1991 reforms transformed the Indian economy. He also suggests how focus on financial sector reforms and enabling policies can fuel growth from here on.

Biocon’s Kiran Mazumdar Shaw urges govt to further ease regulations & cut GST to revive economy

Biocon’s Executive Chairperson, Kiran Mazumdar Shaw, says we have seen strong and sustainable growth over the last three decades, owing to the bold reforms of the early 90s. However, she adds, the government needs to focus on further easing regulations and administrative requirements to facilitate Ease of Doing Business.

The role of India’s foreign ministry in the 1991 economic reforms, and how it has adapted since then

India’s economic diplomacy has to pull itself up by its bootstraps to keep up with global challenges