http://www.economist.com/news/leaders/21583994-indias-economy-its-tightest-spot-1991-now-then-answer-be-bold-how
India has been riddled with corruption, red tape (leading to more graft and corruption), low industrialization, poor infrastructure, massive unemployment , low levels of education and crime to boot.
Even the recent growth spurt was stifled by all the greedy politicians positioning themselves for more bribery by setting more red tape. Causing massive headache to investors...
They have a long way to go...
India has been riddled with corruption, red tape (leading to more graft and corruption), low industrialization, poor infrastructure, massive unemployment , low levels of education and crime to boot.
Even the recent growth spurt was stifled by all the greedy politicians positioning themselves for more bribery by setting more red tape. Causing massive headache to investors...
They have a long way to go...