Prime Minister Narendra Modi’s immediate challenge as he starts a second five-year term following his resounding election victory last month is boosting growth and restoring confidence in the economy, especially in rural areas.
First-quarter GDP growth of 5.8% year over year was the slowest in 20 quarters. The economy grew by 6.8% in the 12 months through March, down from 7.2% a year earlier. The Confederation of Indian Industry recently urged the country to “think big” and aim for GDP growth 10% a year. We agree about thinking big, and we hope the prime minister and his team, including Finance Minister Nirmala Sitharaman, will continue a bold reform agenda and provide a positive backdrop for investors.