Edward Luce has written a very readable uptodate account. He has done his research and sometimes produces some interesting analysis, although he sometimes goes alarmingly far back in history to make some points. However I get the feeling he spent too much time interviewing the political and business elites, and did not really see the rise of the middle class in the towns. Hence he does not understand the true India and what makes it ticks. He makes the point that its not `the economy, stupid' that matters in India, but the politics. Actually, its not `the politics, stupid' it is the society, and he has little insight into this.
Luce makes some interesting comparisons with China and has an illuminating chapter on foreign affairs but his shopping-list of recommendations on how to put India on the right track domestically are simply laughable, and even downright arrogant, displaying a complete disregard for how the electorate might perceive any of his recommendations, eg. increasing the price of electricity and water. The now defunct and discredited Enron went bellyup in India under just such a delusion, and he, as a Financial Times journalist should know this.