Former Indian prime minister Manmohan Singh, considered the architect of the economic reforms that opened up the world’s most populous country three decades ago, has died. He was 93 years old.
“India mourns the loss of one of its greatest leaders, Dr. Manmohan Singh Ji,” current Prime Minister Narendra Modi wrote on X.
“From humble origins, he rose to become a respected economist. He has served in various government positions, including being the minister of finance, and left a strong mark on our economic policy over the years… As our prime minister, he made many efforts to improve people’s lives.”
Singh led India for ten years, from 2004 to 2014.
But perhaps as finance minister where he left his legacy.
Faced with rising oil prices, billions in debt and dwindling foreign exchange reserves, India introduced significant reforms on July 24, 1991.
Singh successfully ended India’s economic isolation, dismantled licensing controls and trade barriers, devalued the rupee and dismantled imperialism.
“There is no power in the world that can stop an idea that is in its time,” Singh said at the time quoting the French writer Victor Hugo.
The idea was to ensure that India “emerges as a major economic power in the world,” said Singh, who studied at Cambridge and Oxford universities in Britain.
“Let the whole world hear loud and clear,” said the soft-spoken politician, “India is now awake. We will win.”
He became the first Sikh prime minister in 2004, when Indian National Congress party chief Sonia Gandhi surprised supporters by rejecting the post and appointing her trusted lieutenant.
Singh led the United Progressive Alliance coalition government for two consecutive five-year terms.
Singh’s coalition government has faced a serious crisis of confidence in its second term, tarnished by allegations of massive corruption, weak leadership, slowing economic growth and inability to control inflation.
Supporters point to major achievements of Singh’s government, such as lifting millions out of poverty through social sector programs.
He was taken to the emergency room on Thursday evening after collapsing at home, according to a statement from AIIMS hospital in New Delhi. After that, he was pronounced dead at the hospital. He was receiving treatment for age-related diseases.
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