India is a big global player – but there are problems it must tackle

India is poised to become the world's most important country in the medium term. It has the largest population (which is still growing), and with a per-capita GDP that is just one-quarter that of China's, its economy has enormous scope for productivity gains. Moreover, India's military and geopolitical importance will only grow, and it is a vibrant democracy whose cultural diversity will generate soft power to rival the US and the UK. One must credit the Indian prime minister, Narendra Modi, for implementing policies that have modernised India and supported its growth. Specifically, Modi has made massive investments in the…