Bernstein tells PM Modi India risks missing growth without reforms
Bernstein, a brokerage firm, has written to Prime Minister Modi saying India could fall short of its economic potential if it doesn't push reforms faster.
The letter points out that with rapid changes in tech and global supply chains, areas like jobs, manufacturing, and innovation need urgent upgrades.
It also flags that generative AI could hit India's service sector, a big source of middle-class jobs.
Bernstein urges agriculture energy manufacturing reforms
Bernstein says India can't just be a tech consumer: it needs to benefit from automation too.
The letter urges major reforms in agriculture, energy, and manufacturing, since agriculture employs many people but adds little to the economy.
It also highlights issues like inefficient power distribution and heavy reliance on imported oil, suggesting a move toward electric mobility.
Plus, rising costs of cash transfer schemes might eat into funds needed for building better infrastructure.