Change is the great constant of the world economy. India was still a colony when the allied powers shaped the international architecture at the end of World War Two. Today, India is a rising economic power that is contributing to world growth in new and powerful ways. Economic reforms in India and China, and the export-driven growth strategies of East Asia all contributed in the last 20 years to a world...

India continues to be one of the most corrupt nations in the world with many of its public institutions given to rampant misdeeds. Corruption is India's bane and threatens to derail its rapidly growing economy. The country ranks a dismal 84th in a list of 180 countries, according to Transparency International's 2009 Corruption Perceptions Index, a measure of domestic and public sector corruption. The corruption watchdog says that many African,...

Prime Minister Manmohan Singh pledged Sunday to spend more on health care and education and make it easier for foreign investors to participate in India’s $1.2 trillion economy, one of the fastest growing in the world. At a World Economic Forum meeting in New Delhi, Mr. Singh said that public sector spending on health care would more than double to 2.5 percent of gross domestic product, and education spending would...

Exports from the world’s poorest countries should be granted duty- and quota-free access to markets, according to government officials, economists and academics attending a regional United Nations trade meeting as they warned against a turn towards protectionist policies. More than 100 participants at the first session of the Committee on Trade and Investment of the Economic and Social Commission for Asia and the Pacific (ESCAP), which wrapped up today in...

Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the food price inflation would come down by the end of the current fiscal. "Food price inflation by the end of the current fiscal would be significantly lower than what it is right now," Ahluwalia said while speaking at the India Economic Summit here. Citing the reason for high food inflation, he said, at the end of a bad monsoon, particularly...