Economic Affairs

India's farm reforms: A '1991 moment'?

A revitalised farm sector could boost India's economy

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Amid a spiralling Covid-19 crisis, India's government passed three laws earlier this month to deregulate the country's farm sector that some economists reckon could be a game changer not only for agriculture, but for the economy as a whole.

This could be a "1991 moment", they suggest, referring to the year in which Indian industry was unshackled from a decades-long "Licence Raj" - a raft of restrictions on production, competition and imports. It set the stage for an economic boom that lasted for the better part of 20 years.

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A version of this article appeared in the print edition of The Straits Times on September 30, 2020, with the headline India's farm reforms: A '1991 moment'?. Subscribe