IMF Deputy Managing Director Gita Gopinath led the tributes to former Prime Minister Manmohan Singh, crediting his landmark 1991 economic reforms for inspiring a generation of economists, including herself.
Singh, who passed away on Friday, was hailed for his transformative role in liberalizing India’s economy and reshaping its future.
“Dr. Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians. His visionary reforms inspired countless young economists like me. Rest in peace, Dr. Manmohan Singh,” Gopinath said in her heartfelt tribute on X.
Singh’s tenure as Finance Minister under Prime Minister P.V. Narasimha Rao marked a turning point for India, moving the country away from the restrictive licence-permit raj and toward an open market economy. Sanjeev Sanyal, a member of the Economic Advisory Council to the Prime Minister, noted the historical significance of Singh’s reforms, stating, “The two most significant years for India in the 20th century were 1947 and 1991 - one brought political freedom, the other economic freedom.”
Leaders from various sectors also remembered Singh as a visionary. Sajjan Jindal, Chairman of JSW Group, praised him as “a statesman of humility and wisdom,” emphasizing his critical role in enabling India’s industrial and economic growth.
The US-India Business Council (USIBC) highlighted his pivotal contributions to the 2008 Civil Nuclear Agreement, calling him a key figure in strengthening Indo-US relations and shaping modern bilateral ties.