Unemployment, AI threat to Indian IT to welfare schemes: Bernstein sounds alarm in open letter to PM Modi

India risks squandering recent economic gains unless it accelerates structural reforms, particularly in jobs, manufacturing and innovation, brokerage Bernstein warned in an open letter addressed to Prime Minister Narendra Modi.

“The last six years demonstrate what India can do when policy is aligned,” the note said, citing stronger macro stability and earnings growth driven by a shift toward capital expenditure.