Book excerpt: In the past few years, India has emerged as a global economic power. It is one of the world’s fastest-growing economies, the leading outsourcing destination, and a favorite of international investors. But even with India’s impressive recent achievements, the country continues to face considerable challenges as it seeks to sustain rapid growth and extend the benefits to all its citizens. Is India entering into a "Golden Age" or experiencing a period of rapid but ultimately unsustainable growth? The studies in this book examine in detail what lies behind India’s recent economic rise and considers the steps needed to build on this success over the medium term.