Indian Economic Reforms 2014-2025: Investor Psychology and the Dawn of a New Era

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DOI: https://doi.org/10.5281/zenodo.19568359

Moni Mishra and Sanket Gupta (Lal Bahadur Shastri Institute of Management, Delhi)

The purpose of this study is to examine the impact of India’s economic reforms implemented between 2014 and 2025 on its economic growth. This period marked a new phase of structural transformation following the 1991 liberalization era. The research analyses key policy initiatives – Goods and Services Tax (GST), demonetization, Insolvency and Bankruptcy Code (IBC), Make in India, Digital India, Skill India, and post-COVID recovery measures. Using an exploratory and descriptive research design based on secondary data from government reports, international institutions, and academic literature, the study evaluates reform outcomes in terms of economic growth, investment flows, employment generation, financial inclusion, and institutional efficiency. The findings reveal improved macroeconomic stability, boosting investor confidence, enhanced formalization, digital financial expansion, and strengthened insolvency resolution mechanisms, alongside persistent challenges related to unemployment, inequality, fiscal pressures, and human capital development. The study concludes that while reforms have strengthened India’s economic resilience, sustained inclusive growth requires deeper structural and institutional reforms.