2min snip

FT News Briefing cover image

Martin Wolf and Raghuram Rajan on democracy’s year of peril

FT News Briefing

NOTE

Transforming India's Economy Through Services and Human Capital Development

India's competitive advantage lies in services rather than manufacturing due to the cost difference with the US. To boost exports and achieve developed country status, India needs to enhance its human capital by investing in education, health, and skill development. The focus should shift towards industries like chip designing, which require highly skilled workers. Without significant improvements in human capital and a redefined vision for economic growth, India will remain in the middle-income bracket even with extraordinary GDP growth rates.

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