Gurcharan Das

For several decades following independence in 1947, India pursued socialist-oriented policies in which the state planned development projects, restricted free trade, and regulated businesses. Beginning in 1991, however, India has taken several steps to deregulate business and open itself up to foreign trade and investment. In the following viewpoint, Gurcharan Das, a business consultant and journalist, argues that such reforms have benefited India by unleashing economic growth and creating a rapidly growing middle class. Das is a former corporate executive in charge of Procter & Gamble’s Indian operations; the following consists of remarks made at a forum discussing his book India Unbound.

As you read, consider the following questions:

1. What general economic prediction does Das make at the beginning of the viewpoint?
2. What is the “Theorem of Convergence,” according to the author...