Economist Podcasts
The Intelligence: Supercharging India’s economy
May 8, 2024
Join Arjun Ramani, a Global business and economics correspondent for The Economist, as he dives into India's economic future. He discusses Prime Minister Modi's bid for a third term, fueled by a backdrop of economic growth but tempered by the need for reforms. Ramani analyzes the booming Indian IT sector while highlighting labor market challenges. Plus, he sheds light on Russia's resilient arms industry amid sanctions and China's strategic support. For a light-hearted twist, he shares humorous insights on the quirks of air travel!
20:22
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Quick takeaways
- India's economic growth under Modi requires new reforms to sustain success.
- Russia's arms industry thrives by sourcing crucial parts from China despite Western sanctions.
Deep dives
India's Economic Growth and Challenges
India's economic growth under Prime Minister Narendra Modi has been significant, making it the world's fifth-largest economy with promising potential to reach third place by 2027. The key factors driving India's growth include investments in digital and physical infrastructure, creation of a single national market, and a strong emphasis on service exports like IT. However, challenges remain, such as the need to address the labor market issues where only a small fraction of the working-age population have formal jobs, highlighting the importance of boosting productivity and creating more employment opportunities.
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