Indian PM Faces Narrow Window Of Opportunity To Advance Investment Reforms

摘要

Indian Prime Minister Manmohan Singh has been presented with a narrow window of opportunity between now and the fall to push through investment reforms that he has long championed, but still faces formidable political resistance both within parliament and from state-level officials that will be difficult to overcome, according to analysts. A number of factors have coalesced to give Singh his chance. For one, his Indian National Congress (INC) party pulled off a sweeping victory in the presidential elections last week, which have little practical impact but are seen as a political bellwether. Slowing economic growth in India is also leading to an outcry for reform, and the next round of elections is just far off enough to allow Singh to take a political risk without the threat of immediate repercussions. According to Arvind Panagariya, a professor of economics at Columbia University, the ruling coalition headed by Singh likely has about three months before it will once again become too politically difficult to push through tough reforms. The next major elections will take place in the Indian state of Gujarat in December.