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Prime Minister Narendra Modi waves to the crowd at a campaign-related event in the state of Haryana, on Feb. 12, 2019. (Photo by Kosaku Mimura)
The Big Story

Has Narendra Modi been good for business?

Tough reforms have recharged confidence, but protectionism and demonetization stain his record

KEN KOYANAGI, Editor-at-large, Nikkei Asian Review | India

MUMBAI -- The village of Dhenkia sits in a fertile region of the eastern Indian state of Odisha that is known for its cultivation of the betel vine. Chewing betel leaves is popular with Indians, making it a reliable cash crop for Dhenkia and the surrounding villages.

But in recent years, the village of about 1,000 residents has become known for something else: blocking the ambitions of one of the world's largest steelmakers. In the process, Dhenkia became a symbol of some of the Indian economy's most intractable structural problems.

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