Can India fulfil its potential?

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In 2023, India will overtake China as the world’s most populous country. And while China has already passed its demographic zenith and begun to age, India’s ascent will continue for decades.

To be sure, after abandoning its socialist model in 1991, India has struggled to boost its economic growth, whereas China’s four decades of “reform and opening” have lifted hundreds of millions of people out of poverty and brought high-income status within sight.

As a result, its economy is now six times larger than India’s, and the difference between the two countries’ basic infrastructure is glaring. But with Chinese President Xi Jinping moving his country back in a more statist direction, growth has slowed substantially.

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