Ever heard of the M Document?

Montek Singh Ahluwalia, an economist in govt of India, saw that India needed to make some big changes to keep up. So, he started working on what would become the M Document. 

The M Document suggested bold reforms. Many government officials thought these ideas were too radical. 

Then, something unexpected happened: the M Document got into the hands of journalist Ashok Desai, who saw its potential, and gave it the now-famous name, the M Document.

Even though the document was just meant for internal review, the leak sparked public debate on how India’s economy could be modernized.

Though it didn’t lead to immediate changes, the M Document planted seeds that grew in a few years.

In this episode of the NEON Show, Montek Singh Ahluwalia, a renowned economist and former Deputy Chairman of India's Planning Commission, shares insights from his pivotal role in shaping the 1991 economic reforms and reveals the behind-the-scenes story of the influential "M document" and how it ultimately shaped India’s approach to liberalisation.

Check out Montek Singh Ahluwalia’s book, BACKSTAGE: The Story behind India’s High Growth Years, https://www.amazon.in/BACKSTAGE-Story-behind-Indias-Growth-ebook/dp/B084P4Y3VW/

Time stamps 

00:00 - Introduction to Mr. Montek Singh Ahluwalia
01:04 - Early life and family’s experience post-partition
05:11 - Winning the Rhodes Scholarship
06:14 - Early career at the World Bank
07:15 - Returning to India as an economic advisor
09:02 - Washington invitation and Planning Commission role
13:02- 1991 economic reforms
18:40 - Committees for economic reform
22:00 - High import controls as an economic issue
26:34 - Challenges in policy reform
28:38 - V.P. Singh asks Montek to write the document”?
31:36 - How did the “M document" leak
38:40 - Maruthi engine block story
48:35 - SEBI and financial system reforms
58:25 - Moving past the “Tonga mindset.”​
1:01 :20- Why controlled imports are tax on exports
1:09:00 - How do exchange rates impact imports and exports?
1:12:04 - Discovery of Roman gold coins in South India
1:16:50 - Narayana Murthy’s import struggles
1:22:25 - Politicians should openly support beneficial policies
1:32:55 - Montek’s vision for India’s next decade
1:39:58 - Final thoughts on India’s future
-------------
Hi, I am your host Siddhartha! I have been an entrepreneur from 2012-2017 building two products AddoDoc and Babygogo. After selling my company to SHEROES, I and my partner Nansi decided to start up again. But we felt unequipped in our skillset in 2018 to build a large company. We had known 0-1 journeys from our startups but lacked the experience of building 1-10 journeys. 

Hence was born The Neon Show (Earlier 100x Entrepreneur) to learn from founders and investors, the mindset to scale yourself and your company. This quest still keeps us excited even after 5 years and doing 200+ episodes.

We welcome you to our journey to understand what goes behind building a super successful company. Every episode is done with a very selfish motive, that I and Nansi should come out as a better entrepreneur and professional after absorbing the learnings.
-------------
Check us out on:

Website: https://neon.fund/
Instagram: https://www.instagram.com/theneonshoww/
LinkedIn: https://www.linkedin.com/company/beneon/
Twitter: https://x.com/TheNeonShoww

Connect with Siddhartha on:
LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/
Twitter: https://x.com/siddharthaa7
-------------
This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.

Send us a text