• Research
  • Emissary
  • About
  • Experts
Carnegie Global logoCarnegie lettermark logo
DemocracyIran
  • Donate
{
  "authors": [
    "Milan Vaishnav"
  ],
  "type": "legacyinthemedia",
  "centerAffiliationAll": "dc",
  "centers": [
    "Carnegie Endowment for International Peace"
  ],
  "collections": [],
  "englishNewsletterAll": "ctw",
  "nonEnglishNewsletterAll": "",
  "primaryCenter": "Carnegie Endowment for International Peace",
  "programAffiliation": "SAP",
  "programs": [
    "South Asia"
  ],
  "projects": [],
  "regions": [
    "South Asia",
    "India"
  ],
  "topics": [
    "Economy"
  ]
}

Source: Getty

In The Media

The Strange Triumph of Narendra Modi: Can India’s Prime Minister Succeed Even as the Economy Plummets?

In 2014, Modi came to power on the promise of an improved economy. As of 2019, India’s economic growth is slowing but Modi’s popularity appears to be intact. If the BJP cannot correct the course of the economy, it will eventually impact the BJP at the polls.

Link Copied
By Milan Vaishnav
Published on Nov 4, 2019
Program mobile hero image

Program

South Asia

The South Asia Program informs policy debates relating to the region’s security, economy, and political development. From strategic competition in the Indo-Pacific to India’s internal dynamics and U.S. engagement with the region, the program offers in-depth, rigorous research and analysis on South Asia’s most critical challenges.

Learn More

Source: Foreign Affairs

When India’s prime minister, Narendra Modi, ran for the top job five years ago, he campaigned as the country’s best hope for economic reform. The government he ran against, led by the Congress party, had mismanaged the economy, fallen into paralysis, and faced one major corruption scandal after another. Modi convinced voters that he was the answer to their economic woes. He spouted slogans like “minimum government, maximum governance” and promised that the “government has no business to be in business.” On the strength of such promises, he led his Bharatiya Janata Party (BJP) to a sweeping general election victory in 2014 and followed that with a landslide reelection in 2019.

Modi has enjoyed remarkable political success in that time. Public opinion surveys show that he is as popular today as he was five years ago. He has created the most powerful, centralized prime ministerial office since that of Prime Minister Indira Gandhi 35 years ago, concentrating many cabinet functions in the hands of close aides. Modi’s party has secured a second straight parliamentary majority and radically expanded its grip on India’s states: today, two-thirds of all state governments rest with the BJP or its allies. If current projections hold, the BJP and its allies could occupy a majority in India’s upper house of parliament—which must confirm major legislation passed in the lower house—by the end of next year.

The dominance of the BJP, however, has surprisingly little do with its economic track record. Modi has succeeded politically despite —not because of—the economy, which is in the midst of a protracted downturn that began on his watch. For his second term, the prime minister has doubled down on the grand economic promises he made in his 2014 campaign and gone still further, setting a goal of turning India into a $5 trillion economy by 2024. But his government has struggled to articulate just how it will bring about India’s economic renewal. While the prime minister has yet to pay a serious political price for this failure, he cannot count on the indefinite forbearance of Indian voters.

Read Full Text

This article was originally published in Foreign Affairs.

About the Author

Milan Vaishnav

Director and Senior Fellow, South Asia Program

Milan Vaishnav is a senior fellow and director of the South Asia Program and the host of the Grand Tamasha podcast at the Carnegie Endowment for International Peace. His primary research focus is the political economy of India, and he examines issues such as corruption and governance, state capacity, federalism, and electoral behavior. He also conducts research on the Indian diaspora.

    Recent Work

  • Paper
    How Populist Middle Powers Are—and Are Not—Reshaping Global Politics
      • Christopher Chivvis

      Christopher S. Chivvis, Rohan Mukherjee, Milan Vaishnav

  • Commentary
    Carnegie’s Summer Beach Reads
      • Steve Feldstein
      • +8

      Sophia Besch, Eric Ciaramella, Steve Feldstein, …

Milan Vaishnav
Director and Senior Fellow, South Asia Program
Milan Vaishnav
EconomySouth AsiaIndia

Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

More Work from Carnegie Endowment for International Peace

  • Men in suits watching people dancing
    Commentary
    Emissary
    Central Asia Wants U.S. Investments. It Is Less Sure About U.S. Conditions.

    Rubio’s recent visit brought welcome attention, but more capital requires governance changes that may be a hard sell for regional governments.

      Jennifer B. Murtazashvili

  • Article
    Can China Turn Its Small Modular Reactor Ambitions into Commercial Reality?

    China has showcased its engineering prowess with small modular reactor demonstration projects. But turning these technological achievements into commercial success will be a greater challenge.

      Tong Zhao

  • leaders sitting in chairs speaking
    Commentary
    Emissary
    As Rubio Lands in India, the U.S.-India Relationship Is Stronger Than It Looks

    Despite public disputes over trade and immigration, the strategic partnership’s foundations remain sturdy.

      • Sameer Lalwani

      Sameer Lalwani

  • Commentary
    Strategic Europe
    Taking the Pulse: Does the EU Have a France Problem?

    With its public finances in shambles, the far right polling at 35 percent ahead of the 2027 presidential election, and a growing protest movement, is France’s crisis a threat to the EU’s geopolitical awakening?

      • Rym Momtaz

      Rym Momtaz, ed.

  • Commentary
    Carnegie Politika
    Stalled at the Front, Russia Seeks to Undermine Ukraine’s Economic Capacity

    Russian strikes are weakening the economy sustaining Ukraine’s war effort. Closing the growing funding gap will require more European support and politically contentious reforms in Kyiv.

      Balázs Jarábik

Get more news and analysis from
Carnegie Endowment for International Peace
Carnegie global logo, stacked
1779 Massachusetts Avenue NWWashington, DC, 20036-2103Phone: 202 483 7600
  • Research
  • Emissary
  • About
  • Experts
  • Donate
  • Programs
  • Events
  • Blogs
  • Podcasts
  • Contact
  • Annual Reports
  • Careers
  • Privacy
  • For Media
  • Government Resources
Get more news and analysis from
Carnegie Endowment for International Peace
© 2026 Carnegie Endowment for International Peace. All rights reserved.