If there were an annual prize for the “World’s Most Hopeful Economy,” it would likely go to India. After years of disappointing returns, the world’s largest democracy rediscovered vigor in 2014. Stocks rose by a third; foreign investment grew by a quarter; the economy at one stage expanded at its fastest pace in two years. Beyond economics, the public mood seemed to lift: There was new hope for a young and tech-savvy India, unburdened by the failures of the past.
One man dominated the headlines, peddling optimism: India’s new Prime Minister Narendra Modi. Modi has fashioned a role for himself not only as CEO of India Inc. but also as its global ambassador, with blockbuster speeches promoting India in New York, Tokyo and Sydney. He is also India’s brand manager, launching catchy campaigns such as “Make in India,” “#MyCleanIndia” and “Digital India.”
Modi has won a broad mandate, as evidenced by his party’s performance in tricky state elections in December. And yet, 2015 marks the end of Modi’s honeymoon. After all, hope can only go so far. Modi’s greatest accomplishment in 2014 was to offer promise: He energized weary Indians. He convinced the world that India had a giant “open” sign on its front doorstep — almost literally, with visas on arrival. He spent much of the year in campaign mode, in India and abroad.
–
Follow @CNNOpinion on Twitter.
Join us on Facebook/CNNOpinion.
