India’s GDP grew by more than 7% last year, its tech unicorns have dazzled the world, and electronic payment transactions have surged across the country. And now, with 1.4 billion people – India’s population has surpassed China’s, suggesting to many that a “demographic dividend” of young Indians could power an economic boom. It’s “India’s moment,” say much of the nation’s elite in tandem with many global political leaders, especially in the US. But this thinking is economically and geopolitically shortsighted for a nation now marking its 75th anniversary. A story is told of a drunken man looking for lost keys...