Purchase. Faculty of Management Studies, University of Delhi, Delhi‐110007, India. Search for more papers by this author. May 12th, 2008 by Stephanie Valera MUMBAI – Why did the early promise of the Indian economy not materialize and what led to its eventual turnaround? The book starts by dividing India’s post-independence period into four phases, based on its growth performance and policies. By Arvind Panagariya Reviewed By Lucian W. Pye May/June 2008. India: The Emerging Giant fills this gap, shedding light on one of the most successful experiments in economic development in modern history. 2. But to date there has been no comprehensive account of India's remarkable growth or the role policy has played in fueling this expansion. But to date there has been no comprehensive account of India's remarkable growth or the role policy has played in fueling this expansion. The world’s largest democracy, India, is an emerging economic giant. ISBN 978-0-19-531503-5 1. HC435.3P36 2007 330.954’05—dc22 2007034153 1 3 5 7 9 8 6 4 2 Printed in the United States of America on acid-free paper India: The Emerging Giant. I. India : the emerging giant / Arvind Panagariya. The most recent phase starts in 1988 and has an average growth rate of over 6% per annum. India—Economic policy. The enormous amount of work that has gone into writing India: The Emerging Giant is obvious to any reader. India is not only the world's largest and fiercely independent democracy, but also an emerging economic giant. "India: The Emerging Giant provides a comprehensive and panoramic exposition of the twist and turns in India's economic policy over the last several decades. New York: Oxford University Press, 2008. xxx + 514 pp., $40 (cloth), ISBN: 978-0-19-531503-5. By Arvind Panagariya. 3. In This Review In This Review India: The Emerging Giant. As Arvind Panagariya has so convincingly argued, open policies and rapid economic growth is the best antidote for poverty reduction. India: The Emerging Giant by Arvind Panagariya Raghav Gaiha. India—Economic conditions. Arvind Panagariya, India: The Emerging Giant. India: The Emerging Giant. India is not only the world's largest and fiercely independent democracy, but also an emerging economic giant. Raghav Gaiha. p. cm. Email: rdg@bol.net.in. India: The Emerging Giant fills this gap, shedding light on one of the most successful experiments in economic development in modern history. India: The Emerging Giant. Reviewed for EH.NET by Arjun Jayadev, Department of Economics, University of Massachusetts ? Boston. But to date there has been no comprehensive account of India's remarkable growth or the role policy has played in fueling this expansion. Title. 544 pp, Oxford University Press, 2008. Reforms that began in the late 1980s and accelerated in the 1990s have led … India—Commerce. India is not only the world's largest and fiercely independent democracy, but also an emerging economic giant. 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