Consolidating change

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2010 will be remembered for its dizzying highs and terrifying lows

But more importantly, it marks the culmination of a decade in which poverty has come to be seen as a “removable condition”. This is thanks to what the economist Jagdish Bhagwati calls a “revolution of perceived possibilities”, which has prompted India’s underprivileged to aspire for more and demand that politicians deliver more. As a result, he suggests the smart politician should look to augment reforms, not reverse them.

Can this revolution of the mind propel India to greater heights? Or will that happen only when the mindset of those who call the shots – both within government and in India Inc – changes? For there is no doubt that while the “noughties” were all about India pushing itself forward onto the world stage, the next few years will focus on consolidation. And whether India does this successfully will depend on how well the system works: is it accountable and transparent and does it function in a socially responsible manner?

This issue’s Vantage point (India in 2011, page 19) offers incisive predictions for the year ahead. Nine business and legal experts turn their thoughts to the opportunities and challenges that India-focused companies will face in the next 12 months.

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