A New Passage to India
In the past, western publications described fast-growing Asian economies as the “Asian tigers,” and India as the “caged tiger.” What they were referring to was the fact that steel-hard barriers of regulations and controls fettered Indian businesses and the economy and prevented them from achieving their full potential. These days, though, following years of deregulation and economic liberalization, India increasingly is viewed as a fast-growing economy that is being transformed by globalization, much like China, into a powerhouse. In other words, the Indian tiger has finally escaped its cage and is on the prowl for new opportunities. This exploration formed the theme of several sessions at the recent Wharton India Economic Forum held in Philadelphia. In this special section on India, Knowledge@Wharton focuses on three key sectors of India’s transformation: macroeconomic growth, health care, and financial services.