With China slowing, Brazil stagnating, and Russia tanking, India has once again emerged as a bright economic spot in the developing world. A business-friendly new Indian government, a windfall from lower global oil prices, and robust new growth figures have all contributed to a sense of optimism about Asia’s third-largest economy. Albeit aided by a change in how it measures GDP, India officially grew faster than China in the final quarter of last year. Finance minister Arun Jaitley predicts that next year the Indian economy will expand by more than 8 percent.
Washington has several reasons to seek warmer ties with New Delhi. Though both countries take pains to deny that their partnership is aimed at neutralizing China, it’s hardly a secret that they share concerns about Beijing’s rising clout in the region. Wedged beside Pakistan and Afghanistan, India is also an oasis of relative stability in a region roiled by radical Islam. As a model for Asia’s smaller countries to emulate, India — democratic and pluralistic, with a large English-speaking middle class — is naturally appealing to Americans.
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