Catalysts of Change: India's Economic Reforms of 1991

This chapter explores the transformative impact of the 1991 economic reforms in India, detailing their historical context and the necessity rooted in a balance of payments crisis. It discusses the dismantling of restrictive industrial licensing, which fostered competition and innovation, particularly in the automobile sector. Additionally, the chapter highlights the broader social implications of economic growth for marginalized communities, revealing significant improvements in socio-economic mobility and aspirations across various demographics.