Jack Immelt on India
You might ask, with this great story, what keeps me awake at night?
To which I would answer, a number of things.
Devolution, defined by Webster as the surrender of powers to local
authorities by the central government, is serious threat facing
India. It stems from a process of gradual deterioration with
potentially important political, social, and economic consequences.
While some signs of devolution are already apparent in political and
social contexts, questions remain as to whether the general process
can be turned around or limited. The economic reform efforts of the
early 1990s were…
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