India now stands at the threshold of the kind of superpower status it will eventually achieve. As democracy falters in the West, so its future in India has never been more critical. There is no reason why the excesses of the last decade should reemerge and turn India into a saffron-tinged version of Russia. Instead, with good judgment, India’s new Gilded Age can blossom into a Progressive Era of its own, in which the perils of inequality and crony capitalism are left decisively behind. India’s ambition to lead the second half of the Asian century—and the world’s hopes for a more democratic,
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