In the theatre of modern politics, spectacle often triumphs over substance. For over a decade, Narendra Modi has mastered this sleight of hand—turning governance into grand theatre, where policy failures are camouflaged beneath grandiloquent slogans and headline-grabbing distractions. But India’s economic and social fractures are deepening, and Modi’s signature style—rule by spectacle—is faltering under its own contradictions.

For years, Modi, like Donald Trump and Jair Bolsonaro, has ruled by dominating the media cycle, engineering narratives that drown out scrutiny. It is an art of deflection—turning failures into distractions, turning opposition into treason, and turning himself into an indispensable saviour. But governance by spectacle, much like a stage magician’s act, relies on timing, execution, and an audience willing to suspend disbelief. In Modi’s India, the script is beginning to unravel, and the consequences could be seismic.

India’s economic landscape is a tale of two nations. On paper, GDP growth remains strong, corporate profits have soared, and the stock market has hit record highs. But the lived reality for millions of Indians tells a different story. Real wages for workers have stagnated, youth unemployment has soared past “45%”, and inflation continues to squeeze household budgets. The much-touted “Make in India” initiative, launched with grand promises to turn India into a global manufacturing powerhouse, has faltered. India’s trade deficit with China—its supposed economic rival—has actually widened under Modi, exposing the hollowness of his economic nationalism.

For the rural poor, the crisis is existential. The agrarian sector, which employs nearly “45% of India’s........

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