Turn of the Tortoise: The Challenge and Promise of India’s Future

India, frequently invoked alongside China as an emerging economic superpower, is revealed as a land of contradictions by Ninan, former editor of two leading Indian business publications, the Business Standard and the Economic Times. As he explains, India’s sheer size and population make it a valuable market and trading power, yet its poverty—average per capita income was $3,372 in 2009–2010—and dysfunctional public sector are significant hindrances to growth. Unlike China, which has nimbly transformed itself into a global manufacturer, India’s strength currently lies in services, attributable more to low wages and Indians’ facility with the English language than competitiveness or efficiency. Ninan laments that India’s tradition of government control of industry, corruption, and cronyism have allowed incompetent, not to mention irrational, business practices to flourish, forestalling the emergence of a vibrant private sector. Even so, India has already surpassed three developed countries—Canada, Italy, and Spain—to become the world’s seventh largest economy. Ninan leaves readers with a note of optimism, predicting that slow and steady progress will cement India’s notable achievements. He has crafted an exceptionally knowledgeable and realistic assessment of India today. [em](Jan.) [/em]