It’s been over 30 years since India liberalised its economy. If it didn’t sink in then, it’s crystal clear today that 1991 was an epochal moment for modern India, the country we were and what we aspire to become.

Our guest for this episode of FED Dialogues, acclaimed author and former Chief Executive of Procter & Gamble India, Gurcharan Das, goes so far as to call it our real economic Azadi or independence. A devout socialist in his formative years, something changed in Das, prompting him to take up the study, and eventually become a strident champion of liberal economic thought. His conviction in the power of the invisible hand of free markets grew stronger as he unwittingly breached the law to sell Vicks VapoRub to millions during an epidemic, and steered his company through a time of great restrictions on doing business in India, the infamous ‘License Raj’.

In this conversation with FED’s Founding Director Rahul Ahluwalia, Das shares profound anecdotes that will shape your perspective on India’s economic growth trajectory, quotes Margaret Thatcher and Deng Xiaoping on selling economic reforms and ditching the planned economy model, and tells us why India, in the 21st century, should strive for an industrial revolution. 

Watch the full video.