It might help ease some tensions if Modi met with China’s President Xi Jinping, given the two leaders last had a face-to-face meeting in 2019. China has emerged as India’s biggest threat, putting pressure on Modi to ensure the long-simmering border dispute is resolved in a manner that doesn’t hurt his or India’s image. With Pakistan relations in a deep freeze and Afghanistan in the hands of the Taliban, India’s ability to influence the region appears to be limited. This means expanding manufacturing bases in India where 10 million people enter the market each year. While India is rebounding at the quickest pace among major economies this year, Modi will need to focus on improving the tax-to-GDP ratio and job creation to keep growth sustainable. Inflation is also a concern as higher costs eat into company margins and pinch consumers. Modi will need to focus on narrowing the budget gap at 6.8% of gross domestic product after an expansionary fiscal policy to boost growth in the pandemic-battered economy. have taken a $1.1 billion hit in losses and are struggling to fully exit due to political and legal woes. Of the 1,680 major infrastructure projects that range from highways and railroads and power plants, about a third are delayed with cost overruns of about 20%, according to government data up to October this year.Ībout 75% of companies operating in the country said they lost business opportunities because they missed out on at least one element of India’s complex compliance regulations, according to a survey published in March this year. While corporate taxes in India are among the lowest in Asia thanks to Modi, he still needs to contend with investors staying away due to creaky infrastructure and red tape.

Here’s what the Modi government will contend with before 2024:

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