1 week ago
India should advocate trade optimism in Manmohan Singh’s honour
Live MintIn the long sweep of global history, will India’s 1991 reforms, led by Manmohan Singh as finance minister under the Narasimha Rao government, mark a turning point as impactful as Britain’s 1846 repeal of corn laws and China’s 1978 embrace of private property? For those familiar with Singh’s academic work and advocacy of export-led growth, a big hint of it was dropped ahead of his 1991-92 budget in the rupee’s two-step devaluation, done to re-price exports. In 2025, a fitting tribute to Singh’s legacy would be for us to convince the globe to reverse its rising trade barriers. The part that’s not so obvious is that trade partners can make mutual gains even if one of them is better at everything.
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