In the recent past, India has demonstrated an ability to act decisively and boldly in moments of crisis - and 2025 was no exception. Confronted by a fresh geoeconomic shock triggered by Trumpnomics, New Delhi returned to a familiar playbook, using the pressure of external disruption to push through a fresh wave of long-pending economic reforms.

However, what makes this moment stand out is the politically sensitive nature of some of these measures. Reforms such as changes to labour laws have long been acknowledged as necessary, yet avoided by successive governments - precisely because they are politically sensitive.

The crisis triggered by Trumpnomics created the space, and a spate of key electoral wins in assembly elections provided political momentum to finally convert intent to execution. And clearly, the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) is not done.

A few weeks ago, finance minister Nirmala Sitharaman told a public gathering that the upcoming Union Budget will press ahead with more reforms, including effecting a complete overhaul of the customs duty structure - bringing it on par with the soft touch employed by regulators while randomly scrutinising direct tax filings.

And then this weekend, Prime Minister Narendra Modi took to X to renew his government's commitment to economic reforms. The context was the conclusion of the annual meeting of chief secretaries convened in New Delhi and addressed by the Prime Minister. "This conference of Chief Secretaries," the PM posted on X, "has taken place at a time when India is witnessing next-generation reforms. India has boarded the Reform Express. And, the primary engine of this Reform Express is India's youth, our demography. That is why, it is our endeavour to empower this demography."

The obvious question then: has India, under NDA, pivoted from reforms of stealth to one of conviction?

India's previous approach to reforms followed a pattern. Inevitably, the inducement for walking the talk was triggered by a crisis. They seem to have had taken cue from Winston........

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