Guwahati, Feb. 9 -- byS. Gopikrishna Warrieron 9 February 2024

In 1991, India initiated economic reforms to combat a severe financial crisis and it was a milestone year for economic growth in the country. The then government opened up markets to foreign investments and embraced globalisation. Since then, thelanguage of development and growthhas been well-ensconced in the national mainstream.

While the initial focus of economic reforms was on using exports to lead to economic growth, the longer-term sustainable option was to increase domestic consumption of goods and services, with a spotlight on the middle-class population.

Rapid industrialisation and urbanisation, and the focus on economic growth, often sidelined sustainable developme...