India is trying to transform what some other nations have successfully managed in modern times. The government of India is liberalizing the economy within an established democratic order. It is hard to escape the impression that market interests and democratic principles are uneasily aligned in India today. The two are not inherently contradictory, but India's leaders are facing problems and in future they will have to manage carefully.
Market-based policies meant to increase the efficiency of the aggregate economy frequently generate short-term dislocations and resentment. In a democratic polity, this resentment often translates at the ballot box into a halt or a reversal of pro-market reforms. India is facing the similar problem.
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