In 1947, India gained independence with a per capita of around $2000(adjusted with inflation).

But over the next few decades, the govt adopted socialist policies, emphasising self-sufficiency and state-led development. As a result, India’s economy grew at a slower pace of 3.5% per year.

In 1991, India introduced a series of reforms— liberalisation, privatisation, and globalisation. India’s growth rate picked up, and by 2023, India’s per capita GDP was back to $2,600, driven by market-friendly policies and increased global trade.

In this episode of the NEON Show, Krishnamurthy Subramanian, Executive Director at the IMF, explains how India can become a $55 trillion economy by 2047.

To learn more read India @100 : Envisioning Tomorrow’s Economic Powerhouse

Connect with Krishnamurthy Subramanian
Linkedin | Twitter
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Timestamp
01:20 – The power of compounding in GDP
04:55 – Chess game story that explains the power of compounding
06:19 – Rule of 72 to understand how money doubles
09:06 – How India will become a $55 trillion economy by 2047
12:33 – Thalinomics to understand inflation
14:20 – What is money in economic terms?
17:22 – Why was the inflation-targeting regime introduced post-1991?
20:30 – Inflation's effects on currency
26:42 – How does a currency react to economic shocks?
30:34 – India’s GDP in 1947 vs today
31:28 – How socialist policies potentially held India back
34:40 – Capitalism has always been in India's DNA
44:31 – How socialist policies have hurt Indian farmers
57:22 – Is agriculture a state subject?
59:59 – How India's growth is linked to productivity
01:09:30 – China’s GDP vs India’s GDP
01:16:48 – Why India is a top investment destination
01:26:10 – Indian startups should innovate differently
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Hi, I am your host Siddhartha! I have been an entrepreneur from 2012-2017 building two products AddoDoc and Babygogo. After selling my company to SHEROES, I and my partner Nansi decided to start up again. But we felt unequipped in our skillset in 2018 to build a large company. We had known 0-1 journeys from our startups but lacked the experience of building 1-10 journeys.

Hence was born The Neon Show (Earlier 100x Entrepreneur) to learn from founders and investors, the mindset to scale yourself and your company. This quest still keeps us excited even after 5 years and doing 200+ episodes.

We welcome you to our journey to understand what goes behind building a super successful company. Every episode is done with a very selfish motive, that I and Nansi should come out as a better entrepreneur and professional after absorbing the learnings.
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This episode is for informational purposes only. The views expressed are those of the

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