PV Narasimha Rao, one of India’s most capable Prime Ministers (1991–1996), was one of the first non-Nehru Prime Ministers to complete a full term. His tenure represented India’s transition to the post-Cold War world. At the same time, his government implemented ambitious economic reforms, liberalising the economy to accommodate globalisation.
Within two months of taking power, his administration, along with Dr. Manmohan Singh, depreciated the rupee by 23%, delicensed most sectors, and liberalised the Indian economy for foreign investment.
This approach drew significant foreign direct investment (FDI), transforming India into a “giant market.” Furthermore, under Rao’s leadership, India enhanced its relations with the United States and the West, culminating in the establishment of the US-India Commercial Alliance (USICA) in 1995.
Rao’s government also worked to improve relations with neighbours, making treaties with China and Nepal. Participating in regional trade agreements such as the South Asian Preference Trade Agreement (SAPTA). Rao’s administration also implemented India’s “Look East” policy, which turned the country’s attention to Southeast Asia, a region that had previously been overlooked during the Cold War.
Furthermore, Rao prioritised security programmes such as the ballistic missile technology development, which demonstrated India’s technological strengths while strengthening its external security. Despite significant disagreements with the United States over the missile programme, economic considerations contributed to the overall stability of bilateral relations.
Overall, the Narasimha Rao government is recognised with transforming India’s foreign policy through economic diplomacy, strategic initiatives, and active participation in the global community.
About the Author
Ankita is a German scholar and loves to write. Users can follow Ankita on Instagram 
How Birsa Munda’s Revolt for Indigenous Rights
Indian tribal chieftain and liberation warrior Birsa Munda was famous. He was born on November…
From Sunlight to Sugars: The Miracle of Photosynthesis
What is photosynthesis? Photosynthesis is the process through which plants, algae, and some microorganisms use…
Discover the Mysterious World of the Indus Valley Civilization
Do you find the cultures and lifestyles of the past to be fascinating? If so,…
कैस्पियन सागर समुद्र और झील दोनों क्यों है?
कैस्पियन सागर (Caspian Sea) पांच देशो के तटों को जोड़ता है या सीमाओं से लगता…
India’s Chandrayaan-3
The successful soft landing of India’s Chandrayaan-3 near the Moon’s south pole on August 23,…
RTGS के बारे में, क्या होता है RTGS ? – FAQs
RTGS कोर बैंकिंग सॉलूशन्स (Core Banking Solutions ) की एक सुविधा है जिसमे बड़े स्तर पर भारतीय अर्थव्यवस्था को…
E. (2024, February 10). Contributions of Former Prime Minister PV Narasimha Rao – BugNews. BugNews. https://bugnews.in/contributions-of-former-prime-minister-pv-narasimha-rao/