Ep 25. 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 Podcast03:30 Professor Panare's Academic and Professional Journey05:59 Evolution of Trade Theory and Policy11:07 Debates on Multilateralism vs. Bilateralism16:57 India's Economic Reforms and Policy Shifts21:54 Current Economic and Political Debates30:40 Impact of Geopolitics on Trade and Development38:16 India's Economic Model and Future Directions46:28 Industrial Policy Resurgence in the US47:14 Government's Role in India's Private Sector Growth48:05 Public Health and Education: Areas for Government Expansion50:25 Industrial Policy and India's Strategic Sectors56:15 Comparing Nehruvian and Modinomics Approaches01:03:04 Technology and Innovation: Past and Present01:18:38 Trade Policies and Global Market Dynamics01:23:17 The Benefits of Liberalizing Trade01:24:11 The Impact of Exchange Rates on Competitiveness01:25:30 Historical Perspectives on Trade and Protectionism01:27:23 Export Interests vs. Import Competing Interests01:29:33 Sectors with Export Potential01:34:24 Challenges in Services Exports01:44:24 Conclusion and Final ThoughtsBook 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/019777461XIndia's Trade Policy: The 1990s and Beyond:https://www.amazon.in/Indias-Trade-Policy-1990s-Beyond/dp/9354899331India: The Emerging Giant: https://www.amazon.in/India-Emerging-Giant-Arvind-Panagariya/dp/0199751560Follow Anirudh here:X (formerly Twitter): https://x.com/anirudhsuriLinkedin: https://www.linkedin.com/in/anirudhsuri/Instagram: https://www.instagram.com/anirudh_suriFacebook: https://www.facebook.com/AnirudhSuri.inWebsite: [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