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April 19th, 2024 | 6:26 PM ET

India Races to Revamp its Economy and Military

Posted: August 15th, 2017

Indian Prime Minister Narendra Modi is well known for his massive Twitter following – roughly 32 million – and obsession with taking selfies at every occasion. But it was his promise to bring the economic success and clean governance of his home state of Gujarat to the rest of India that fueled Modi’s rise to power in 2014.

This Gujarat model is the driving force behind “Modinomics,” which focuses on rooting out corruption in the government and society, slashing the regulation and red tape that strangles foreign direct investment, and kick-starting Indian manufacturing through the “Make in India” program. In November of last year, the Modi government proved just how committed it was to pursuing radical reform when it suddenly removed two of the largest currency denominations from circulation in an effort to hamstring the black economy.

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