By Roger Silverman, June 2014
The sweeping electoral victory of the BJP under the leadership of Narendra Modi has been greeted worldwide with a mixture of euphoria and alarm.
For big business, the justification for the euphoria lies in Modi’s record as chief minister of the state of Gujarat between 2002 and 2010, when he presided over an average growth rate of 16.6% a year. However, Gujarat’s rapid growth actually pre-dates Modi by a whole decade: it had already been the fastest-growing of India’s fourteen major states between 1991 and 1998. Moreover, even during Modi’s tenure of office, Gujarat was not in fact India’s fastest-growing state: its record was exceeded by Uttarkhand and Sikkim. Continue reading