Holi, Inclusive Growth, And India’s Future

Happy Holi! It is easy to be swept up by the colorful, joyful, and raucous celebrations as Indians mark the Hindu holiday of Holi this week. Walking through the streets of Delhi during the festivities, it struck me that Holi is more than a holiday.


It is also a great equalizer. Everyone I passed was covered in bright reds, yellows, greens, indigos, blues, and purples—regardless of age or station in life. This dye-covered equality was particularly conspicuous in what is usually a land of stark contrasts, where vast wealth and world-leading firms coexist with extreme poverty and an inefficient informal sector.

India’s macro outlook is similarly marked by contrast, with exciting opportunities coexisting alongside great challenges. These contrasts make it difficult to assess which will prevail in the coming years. India is therefore at a critical juncture. The investments and policy choices that are made today will affect whether the challenges or opportunities define India’s trajectory over the next decade and beyond.