India’s economic development strategy has undergone significant evolution, shaped by changing global and domestic dynamics. At this critical juncture, India’s growth model presents vast opportunities but also faces considerable challenges in achieving its full potential. This briefing examines the historical, systemic, and structural hurdles that could hinder progress while outlining strategies to capitalize on emerging opportunities and maintain growth momentum.

A collaborative article by the Asia Business Council and McKinsey delved into the perspectives of business leaders in Asia as they navigate an emerging and potentially more turbulent era, in terms of world order, technology, demographics, resource and energy systems, and financial capitalization. Overall, they believe the region can sustain its growth but will need strategic adjustments to address disruptions and volatility in a multipolar world.

As Asian economies face recession worries, many are putting climate action on the back burner – but climate resilience goes hand in hand with economic stability. Setting ambitious energy and sustainability targets supports green growth.

Supply-side constraints, loose monetary policy, geopolitical tensions and weakening consumer sentiment are just some of the issues weighing on business leaders’ minds. Asia’s economic vitality means it will remain a leading source of growth in the future, but expect more bumps on the road to recovery.

Chinese policy makers are increasingly worried that the country’s rise could be stymied by the same demographic factors that bedevil Japan, which has become the poster child for an aging society.