Description
Where is India going today? Is it surging forward, having just overtaken the United Kingdom to become the fifth-largest economy in the world? Or is it flailing, unable to provide jobs for the millions joining the labour force? What should India do to secure a better future?
India is at a crossroads today. Its growth rate, while respectable relative to other large countries, is too low for the jobs our youth need. Intense competition in low-skilled manufacturing, increasing protectionism globally and growing automation make the situation still more difficult. Divisive majoritarianism does not help. India
broke away from the standard development path―from agriculture to low-skilled manufacturing, then high-skilled manufacturing and, finally, services―a long time back by leapfrogging the intermediate steps. Rather than attempting to revert to development paths that may not be feasible any more, we must embark on a truly Indian path.
About the Author
ROHIT LAMBA is an assistant professor of economics at Pennsylvania State University and a visiting assistant professor of economics at New York University Abu Dhabi. He received a PhD in economics from Princeton University and was a postdoctoral fellow at the University of Cambridge. He publishes regularly in leading academic journals and newspapers. He has also worked as an economist at the office of the chief economic adviser to the Government of India.
Reviews
There are no reviews yet.