NEW DELHI—Twenty-five years ago this summer, India cracked open its state-dominated economy, embracing private enterprise and foreign investment after decades of socialist self-reliance. But the aftermath of 1991 also put a cautious stamp on future drives to transform the economy, one that the present prime minister, Narendra Modi, hasn’t managed to shake. Indians’ average incomes have grown fourfold since. The government that...

Source: Wall Street Journal July 31, 2016 16:52 UTC