Endemic corruption is destroying India’s growth perspectives – With Aakash Brahmachari

Endemic corruption is destroying India’s growth perspectives – With Aakash Brahmachari

Aakash Brahmachari is an Associate Director at G3, a business intelligence outfit in London. Aakash, as an Indian living in the UK, has the opportunity to look at the Indian affairs with a detached sight.

I have asked Aakash about a comparison between India and China and, differently from other Indian professionals and academics I have spoken with, he didn’t agree to compare the two Asian giants. As Aakash said, what works in one country doesn’t work in the other. China had a spectacular growth thanks to the government, while India has grown despite his bloating bureaucracy and inefficient government.

Moreover, the institutions that are supposed to fuel economic growth, like banks, are plagued by corruption. Inefficient corporations backed by politicians received favourable loans from state banks, creating unfair conditions to unleash market forces. This despite Modi’s government is perceived as a market-friendly government.

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