Twenty years ago this summer, India introduced major economic reforms that have led to sustained high growth, reductions in mass poverty, and an ongoing transformation of Indian society. Swaminathan Aiyar will describe the key reforms and why they were politically possible. Surjit Bhalla, one of the world’s leading experts on growth and poverty, will discuss the social impact of liberalization, including the dramatic rise of the middle class. Arvind Panagariya will stress the need for further modernization and highlight pressing items on India’s unfinished reform agenda. All three speakers will assess the probability of future high growth and reform.