India’s economy hits a roadblock

Workers tending to machinery at a sugar factory in Karad, India. Industrial growth, the stock market and the rupee are sinking, and consumers earn too little to buoy them, stymieing India’s drive to become a developed economy. — ©2025 The New York Times Company

A YEAR ago, India seemed poised for an economic resurgence.

Having overtaken China as the world’s most populous nation, its leaders celebrated the title of the fastest-growing major economy.