Forbes‘ Tim Ferguson says that as Asia looks for a main engine of growth through 2020, India’s prospects are in the air.
Ferguson writes: “India’s output gains keep beating 7%. They are thought likely to get a boost from normalization of sales tax across the country’s states, a hard-fought legislative breakthrough of Prime Minister Narendra Modi. Uniformity of goods and service taxation, if finalized, should break down many internal barriers that have held Indian business back for decades. Investment flows tend to support this optimism.”
Ferguson also mentions obstacles on the way, but adds that advances in technology, the society’s relative openness and adaptability, and its entrepreneurial talent, “are India’s basis for great leaps ahead.”
