Description
Rave Media Sustaining India'S Growth Miracle by Jagdis N Bhagwati Charles W Calomiris
The economy of India is growing at a rate of 8 percent per year, and its exports of goods and services have more than doubled in the past three years. Considering these trends, economists, scholars, and political leaders across the globe are beginning to wonder whether India s growth can be sustained.The contributors to this volume analyze the forces behind India s emerging role as a world economic player and identify the hidden weaknesses that, if unaddressed, may slow the country s growth. Contributors suggest how to transform India s primarily rural population into a gainfully employed modern sector; methods to achieve fiscal sustainability and consolidation; how to deal with infrastructure bottlenecks, especially in terms of finite energy resources; and, given the country s complex electoral government and global political position, ways to overcome the obstacles to effecting policy reform. Sustaining India s Growth Miracle is a valuable resource for practitioners, policymakers, students, and scholars. It tackles issues from political, economic, and academic perspectives. The concluding chapter, a talk given by Mr Kamal Nath, Minister of Commerce and Industry, India, discusses the country s position as a world power, outlining several reasons for India s success and exploring the difficulties that lie ahead.