Rao, Singh needed each other for 1991 reforms: Chidambaram

P Chidambaram has underscored that neither P V Narasimha Rao nor Manmohan Singh could have successfully shepherded India's 1991 economic reforms independently, emphasizing the critical partnership between the Prime Minister and Finance Minister that transformed the nation's economy.

Chidambaram's remarks underscore how the reforms required both political will and technical expertise. Rao's decisive leadership as Prime Minister provided the political cover necessary to push through controversial liberalization measures, while Singh, as Finance Minister, brought the economic vision and technical acumen to design and implement the sweeping changes that dismantled decades of protectionist policies.

The former Finance Minister has also advocated for India to pursue greater economic competition and openness in the current global environment. He has called for a revitalized World Trade Organization as a platform for advancing free trade and economic integration, arguing that such measures remain essential for India's continued growth and development.

Chidambaram's assessment comes as India faces calls from policymakers and economists to deepen market-oriented reforms and strengthen its engagement with global trade frameworks. His remarks reflect ongoing debates within policy circles about how India can sustain economic momentum through enhanced competition and international economic cooperation.