The Indian economy’s stellar run has further to go, boosted by impressive improvements in infrastructure, financial inclusion and the ease of doing business.
Private investment, however, has not played a major role, and a declining FDI share undermines the idea that India will be a big winner from supply chain diversification.
Major barriers, both in terms of India's economic foundations and policy direction, need to be overcome if India is to attract the capital formation needed to power further growth.
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