India’s economic reform trajectory has, over the decades, acquired a broad political consensus. Today, across party lines and ideological aisles, the debates are largely about the extent and pace of reforms rather than their necessity. However, in an era marked by rising aspirations- “the revolution of rising expectations”, deepening inequality, and complex governance challenges, the time has come to transcend incremental measures and pursue bold, structural reforms that can power the next phase of India’s journey to realise the avowed objectives of development.
The fundamental question before us is no longer whether to reform, but how to reform meaningfully. Traditional approaches that rely on gradual, piecemeal changes are increasingly inadequate for addressing the multi-dimensional problems that define India’s economic and social landscape. As Albert Einstein famously remarked, “We cannot solve our problems with the same thinking we used when we created them.”
India’s growth story now requires a fundamental shift in both vision and strategy—one that targets structural bottlenecks with clarity and purpose.
Land governance and women’s development can be isolated and identified as important building blocks of development.
These are not peripheral concerns; rather, they constitute the core of inclusive and sustainable economic development.
Recognizing this, the Government of India made a decisive move in August 2025 by constituting two high-level committees, led by former Cabinet Secretary Rajiv Gauba and the current Cabinet Secretary T.V. Somanathan, to focus specifically on these critical domains. This initiative signals not just administrative intent but a paradigm shift in the governance of reforms—from reactive policymaking to proactive structural transformation.
Land Reforms: Unlocking Economic Potential through Better Governance
Land remains one of India’s most contested and under-reformed factors of production. Despite technological advancement and urban expansion, the legacy of obsolete land laws, fragmented ownership, opaque records, and cumbersome acquisition procedures continues to stifle progress across sectors- be it infrastructure, agriculture, housing, or industrial development.
Comprehensive reforms in land governance are essential to:
Modernize land records through digitization and integration;
Establish clear title ownership, reducing litigation and disputes;
Simplify acquisition and transfer processes, making land markets more dynamic and transparent;
Create a conducive environment for investment, especially in rural and semi-urban India.
By improving land governance, India can unleash significant economic value, reduce transaction costs, and foster greater investor confidence, particularly at the state level where implementation challenges are most acute. Structural reform in this domain is not merely administrative housekeeping; it is a prerequisite to sustained, broad-based development.
Women’s Empowerment: From Periphery to the Centre, Marginal Inclusion to Central Leadership
Parallel to land reforms, the empowerment of women must evolve from a developmental goal to a central plank of economic strategy. India cannot afford to overlook the demographic dividend presented by its female population, which remains underrepresented in almost all economic indicators, particularly labor force participation, asset ownership, and formal entrepreneurship.
Moving from a women-centric to a women-led development paradigm entails:
Strengthening women’s property rights, including inheritance and joint ownership;
Promoting economic participation through targeted skilling, safe workplaces, and flexible labor regulations;
Ensuring financial inclusion by improving access to credit, insurance, and digital banking services;
Enhancing representation of women in political institutions, local governance, and corporate leadership.
Empowering women is not just a matter of equity; it is an economic imperative. Studies consistently show that increasing women’s participation in the economy leads to higher growth, greater productivity, and improved developmental outcomes at the household and community levels.
Execution is the Key: Navigating the Implementation Challenge
What distinguishes the current reform push is the deliberate emphasis on inter-ministerial coordination, Centre–State alignment, and the active engagement of industry bodies like CII, FICCI, and Assocham. This multi-stakeholder approach acknowledges the complex, interconnected nature of structural reforms and the need for collaborative execution as partners in development.
Yet, the ultimate success of these reforms will be a function not of intent but of implementation- the proof of the pudding lies in the eating. As Steve Jobs rightly stressed, “Ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions”.
India’s federal structure, while offering diversity and flexibility, often leads to inconsistency in policy enforcement and political contestation between the Centre and States. For structural reforms to translate into real-world impact, these coordination gaps must be addressed through transparent frameworks, capacity building, and strong political will.
Pathway to Development: The Next Leap in India’s Growth Story
India stands at a pivotal juncture, where the limits of incrementalism are evident, and the promise of structural reform beckons. By prioritizing land governance and women’s empowerment, the country can build the institutional and social foundations necessary for inclusive, equitable, and sustained growth.
This is not merely a technocratic exercise; it is a moral, economic, and political imperative. The true measure of India’s progress will not just be the quantitative parameters of GDP growth, but also the qualitative aspects of development focused on creating meaning and value in the lives of the poor, the deprived and the marginalised sections of society. In other words, we cannot be oblivious to the extent to which reforms transform the lives of those historically left at the margins, what Professor CK Prahlad famously called “fortune at the bottom of the pyramid”. Put simply, while the size of the national cake has to grow, the slices of this cake must also be more evenly and equitably distributed.
In this transformative odyssey, it is essential to remember that visionary policies must be matched with effective execution. The coming years will test not just the ideas behind reform, but the institutions and actors responsible for bringing them to life.
The opportunity is unprecedented; and so is the responsibility. This humongous opportunity is reminiscent of Shakespeare’s ‘Julius Caesar’, where Brutus talks to Cassius saying, “There is a tide in the affairs of men.
Which, taken at the flood, leads on to fortune”.
We have today to move full steam ahead, firing on all cylinders; failure is not an option.
ABOUT THE AUTHOR
Dr. Manoranjan Sharma is Chief Economist, Infomerics, India. With a brilliant academic record, he has over 250 publications and six books. His views have been cited in the Associated Press, New York; Dow Jones, New York; International Herald Tribune, New York; Wall Street Journal, New York.
