problems – like those of China in the late 1970s – are weak business governance and the lack of domestic investment in infrastructure.

Like China in the 1980s and 1990s, these are the problems India must fix if it is to grow sustainably for many decades, and until it...

fixes them, trade agreements may just lock India into a minor role in global supply chains. It should only join trade agreements if these are reasonably balanced and bring India the resources it needs, rather than try to fit its economy into the needs of its trade partners.

It's worth remembering that China only engaged in international trade on its own terms during the 1980s and 1990s, to no apparent ill effect.
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