How Economic Growth in India Shows the Way for Other Developing Countries
Jagdish Bhagwati’s influence on the international economic debate is huge. He is known both for his directing and advisory roles in organisations such as GATT, UN, WTO, and for his provocative publications which include the 2004 worldwide success “In Defense of Globalization”, putting him in direct opposition to globalisation critics such as Naomi Klein. A Senior Fellow at the Council on Foreign Relations, Bhagwati is the winner of several prizes and honorary degrees, including awards from the governments of India (Padma Vibhushan) and Japan (Order of the Rising Sun, Gold and Silver Star). His latest book “Why Growth Matters” sheds light on the myths around the Indian economy, a topic of special interest at a time when the current political establishment is under international spotlight. With 2013 marking the first economic slowdown faced by India since the liberal reforms of 1991, many have criticised the country’s growth for being too fast and unequal. Bhagwati explains that it is in fact this kind of accelerated economic change that decreased the extreme levels of poverty in India – and that it can do the same for other large developing countries.