When India embraced systematic economic reforms in 1991 and began opening its economy to both domestic and foreign competition, critics argued that they had contributed little to the acceleration of economic growth. Their argument had rested on the claim that growth in the 1990s was no faster...

Reforms and Economic Transformation in India is the second volume in the series Studies in Indian Economic Policies. The first volume, India's Reforms: How They Produced Inclusive Growth (OUP, 2012), systematically demonstrated that reforms-led growth in India led to reduced poverty among all...