Nehru's Legacy and Modi's Vision: India's Economic Strategy, ft. Arvind Panagariya (Ep 25)

In this episode of the Great Tech Game Podcast, host Anirudh engages in an enlightening conversation with Professor Arvind Panagariya, chairman of the 16th Finance Commission of India and Professor of Indian Political Economy at Columbia University. They explore a wide array of topics including India's historical and current economic policy strategies, the role of technology and innovation, and the challenges and opportunities in India's trade policies. Professor Panagariya shares his extensive experience and insights on how India can leverage markets, enhance R&D, and navigate the complexities of global trade to ensure sustainable and inclusive economic growth. They delve into historical economic models, compare them with present-day policies, and discuss the impact of geopolitical dynamics on India's economy. The episode concludes with a discussion on the future of job creation in the age of rapid technological advancements. Show Notes: 00:00 Introduction to the Great Tech Game Podcast 03:30 Professor Panare's Academic and Professional Journey 05:59 Evolution of Trade Theory and Policy 11:07 Debates on Multilateralism vs. Bilateralism 16:57 India's Economic Reforms and Policy Shifts 21:54 Current Economic and Political Debates 30:40 Impact of Geopolitics on Trade and Development 38:16 India's Economic Model and Future Directions 46:28 Industrial Policy Resurgence in the US 47:14 Government's Role in India's Private Sector Growth 48:05 Public Health and Education: Areas for Government Expansion 50:25 Industrial Policy and India's Strategic Sectors 56:15 Comparing Nehruvian and Modinomics Approaches 01:03:04 Technology and Innovation: Past and Present 01:18:38 Trade Policies and Global Market Dynamics 01:23:17 The Benefits of Liberalizing Trade 01:24:11 The Impact of Exchange Rates on Competitiveness 01:25:30 Historical Perspectives on Trade and Protectionism 01:27:23 Export Interests vs. Import Competing Interests 01:29:33 Sectors with Export Potential 01:34:24 Challenges in Services Exports 01:44:24 Conclusion and Final Thoughts Book Links: Anirudh Suri: The Great Tech Game by Anirudh Suri - https://amzn.eu/d/1Su38My Arvind Panagariya: The Nehru-Era Economic History and Thought & Their Lasting Impact : https://www.amazon.in/Nehru-era-Economic-History-Thought-Lasting/dp/019777461X India's Trade Policy: The 1990s and Beyond:https://www.amazon.in/Indias-Trade-Policy-1990s-Beyond/dp/9354899331 India: The Emerging Giant: https://www.amazon.in/India-Emerging-Giant-Arvind-Panagariya/dp/0199751560 Follow Anirudh here: X (formerly Twitter): https://x.com/anirudhsuri Linkedin: https://www.linkedin.com/in/anirudhsuri/ Instagram: https://www.instagram.com/anirudh_suri Facebook: https://www.facebook.com/AnirudhSuri.in Website: [www.anirudhsuri.com](http://www.anirudhsuri.com/) Book and Podcast: [www.greattechgame.com](http://www.greattechgame.com/) #GreatTechGamePodcast #EconomicPolicy #IndianEconomy #GlobalTrade #TechAndInnovation #InclusiveGrowth #ArvindPanagariya #IndianPoliticalEconomy #FinanceCommission #ColumbiaUniversity #TradePolicy #EconomicReforms #Multilateralism #BilateralTrade #GlobalTradePolicy #IndianEconomicReforms #PolicyShifts #GeopoliticsAndTrade #SustainableGrowth #IndustrialPolicy #EconomicDevelopment #GovernmentAndMarkets #StrategicSectors #PublicHealth #EducationPolicy #GovernmentInvestment #NehruvianEconomics #Modinomics #HistoricalEconomics #EconomicComparisons