Description
The new path for economic development that India must create The whole world has a stake in India's future, and that future hinges on whether India can develop its economy and deliver for its populationnow the world's largestwhile staying democratic. India's economy has overtaken the United Kingdom's to become the fifth-largest in the world, but it is still only one-fifth the size of China's, and India's economic growth is too slow to provide jobs for millions of its ambitious youth. Blocking India's current path are intense global competition in low-skilled manufacturing, increasing protectionism and automation, and the country's majoritarian streak in politics. In Breaking the Mold, Raghuram Rajan and Rohit Lamba show why and how India needs to blaze a new path if it's to succeed. India diverged long ago from the standard development model, the one followed by Chinafrom agriculture to low-skilled manufacturing, then high-skilled manufacturing and, finally, servicesby leapfrogging i
