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Sustaining India's Growth Miracle

by Jagdish N. Bhagwati Charles W Calomiris Columbia University Press
Pub Date:
Hbk 288 pages
AU$115.00 NZ$118.26
Product Status: Not Our Publication - we no longer distribute
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The population of India is increasing at a rate of 8 percent per year, and its exports of goods and services have more than doubled in the past three years. Considering these trends, economists, scholars, and political leaders across the globe are beginning to wonder: Can this growth be sustained?

The contributors to this volume analyze the forces behind India's emerging role as a world economic player and identify the hidden weaknesses that, if unaddressed, may slow the country's growth. Chapters suggest how to transform India's primarily rural population into a gainfully employed modern sector; methods to achieve fiscal sustainability and consolidation; infrastructure bottlenecks, especially in terms of finite energy resources; and, given the country's complex electoral government and global political position, the obstacles towards effecting policy reform. This book is for practitioners, policymakers, and students and scholars, tackling issues from political, economic, and academic perspectives. The concluding chapter, written by the commerce and industry minister of India, discusses the country's position as a world power, outlining several reasons for its success and exploring the difficulties that lie ahead.

List of Acronyms
Editors' Acknowledgments
Introduction, by Jagdish N. Bhagwati and Charles W. Calomiris
1. Transforming India, by Arvind Panagariya
Comment: Barry Bosworth, Mihir A. Desai
2. Unfinished Reform Agendum: Fiscal Consolidation and Reforms, by T. N. Srinivasan
Comment: M. Govinda Rao
3. Reforming the Indian Electricity Supply Industry, by Frank A. Wolak
Comment: Jessica Wallack
4. The Indian Software Industry and Its Prospects, by Ashish Arora
Comment: Frank Levy
5. India: Past, Present, and Future, discussion by Jagdish Bhagwati, Ambassador Ronen Sen, Arun Shourie, and former U.S. ambassador Frank Wisner. Moderator: Arvind Panagariya
6. India: An Emerging Giant, by the Honorable Kamal Nath

About the Author
Charles W. Calomiris is the Henry Kaufman Professor of Financial Institutions at the Columbia University Graduate School of Business and a professor at Columbia's School of International and Public Affairs. He also serves as the academic director of Columbia's Chazen Institute of International Business and the Center for International Business Economics and Research. He is the editor of China's Financial Transition at a Crossroads and author of U.S. Bank Deregulation in Historical Perspective and, with David Beim, Emerging Financial Markets.