Since 1991, India’s per capita income has grown more than three times faster than in the decades that preceded liberalization.  Refuting the notion of a so-called “Hindu rate of growth”, increases in the country’s per capita income have surpassed global per capita GDP growth by a large and expanding margin, outpacing the rest of the world during booms as well as in the midst of global downturns.

For more on this topic, check out the India since 1991: tiger uncaged dispatch.

Since India liberalized its economy in 1991, its exports have grown by a factor of twenty – fully reversing the decline in the country’s share of world exports between independence (1947) and 1991.

For more on this topic, check out the India since 1991: tiger uncaged dispatch.

​Note:  This is part two of a two-part series on the roots and impact of India’s 1991 crisis.  Part one is here.