Manmohan Singh

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april 10, 2026

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april 10, 2026

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"Singh and I had developed a warm and productive relationship. While he could be cautious in foreign policy, unwilling to get out too far ahead of an Indian bureaucracy that was historically suspicious of U.S. intentions, our time together confirmed my initial impression of him as a man of uncommon wisdom and decency…. What I couldn’t tell was whether Singh’s rise to power represented the future of India’s democracy or merely an aberration.... In fact, he owed his position to Sonia Gandhi…more than one political observer believed that she’d chosen Singh precisely because as an elderly Sikh with no national political base, he posed no threat to her forty-year-old son, Rahul, whom she was grooming to take over the Congress Party... He feared that rising anti-Muslim sentiment had strengthened the influence of India’s main opposition party, the Hindu nationalist Bharatiya Janata Party (BJP)... In the dim light, he (Singh) looked frail, older than his seventy-eight years, and as we drove off I wondered what would happen when he left office. Would the baton be successfully passed to Rahul, fulfilling the destiny laid out by his mother and preserving the Congress Party’s dominance over the ‘divisive nationalism’ touted by the BJP?"

- Manmohan Singh

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"India held back a little longer, but an Indian economist, Parth Shah, tells me that the country started looking at what was happening around them, in Taiwan, South Korea and now also China: ‘We saw that they actually changed their model and they did succeed in what they had done, and it was time for India to learn the lesson.’ That was decisive in 1991, when a debt-financed boom crashed and the foreign exchange reserve had shrunk to such a level that India was three weeks from running out of money. The crisis prompted the Minister of Finance Manmohan Singh to quote the nineteenth-century romantic Victor Hugo in parliament: ‘No power on earth can resist an idea whose time has come.’ The idea was to dismantle trade barriers and stifling regulations that held India back and kept half the population in extreme poverty. In the past, economists spoke condescendingly of the ‘Hindu growth rate’ as if there was some kind of complacency built into the country’s tradition that stopped the economy from growing faster than the population. After the reforms of 1991 and those that followed, this culture changed as if by magic and growth took off. Today, average income is three times greater than before reform and extreme poverty is only one-fifth of previous levels."

- Manmohan Singh

• 0 likes• people-of-british-india• economists-from-india• academics-from-india• indian-national-congress-politicians• prime-ministers-of-india•