The Intelligence from The Economist
The Intelligence: Supercharging India’s economy
May 8, 2024
Arjun Ramani, a global business and economics correspondent, shares insights into India's burgeoning economy and how Narendra Modi's leadership has positioned the nation for future success. He discusses the need for new reforms to ensure sustainable growth, highlighting the crucial role of the IT and services sector. The conversation also touches on Russia's resilient arms industry, adapting amidst sanctions, and how China clandestinely supports it. Plus, Ramani lightens the mood with amusing anecdotes about the trials of working while flying.
20:22
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Quick takeaways
- India's economic success is driven by infrastructure development and service exports, but sustainability hinges on needed reforms.
- Russia's arms industry thrives despite Western sanctions, sourcing crucial components from China and navigating supply chain complexities.
Deep dives
India's Economic Growth and Development
India's economic success is attributed to infrastructure development, including road and power projects, creation of a national market, and digital identity schemes. Additionally, the country excels in service exports, particularly in IT, with companies like Infosys and TCS leading the way. While India's growth is notable, some question the sustainability of its success and the direct impact of leadership, such as Prime Minister Narendra Modi.
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