EML | Dr. Indermit Gill Live at IIT Madras

Extra Mural Lectures (Estd. in 1982) - Flagship lecture series, IIT Madras aiming to facilitate interaction between students and speakers from diverse fields.
Indermit Gill, the Chief Economist of the World Bank Group and Senior Vice President for Development Economics, is renowned for his leadership on the influential 2009 World Development Report on economic geography. He is also known for introducing the concept of the 'middle-income trap,' which describes how countries can stagnate after reaching a certain income level. His insights on global economic development are invaluable.
In this talk, titled "India and the Middle-Income Trap," Gill shares invaluable insights on global economic development, focusing on the challenges and opportunities facing India.
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[@madhusudanjeurkar3178]

IItians are really privileged to get such enlightening lectures.

[@jittythomas3130]

Another great idea is to get built 10 or 11 large companies in India with the conviction the it is the only way to foster a large number of MSMEs probably using high value low-tech in them and so create more jobs.

[@The_Viking970]

If women's participation in India's economy matched that of Western countries, our GDP could be at least 25% to 80% higher, potentially making us the third largest economy in the world. Currently, India's defense manufacturing sector is valued at around $8 billion, contributing less than 2% to the GDP, compared to the U.S., where defense manufacturing contributes approximately 12%. In the space sector, India lags significantly behind, with U.S. private firms employing around 360,000 people in the private space industry. Similar disparities exist in sectors such as semiconductors, AI development, and quantum computing. It is crucial to open the defense and space sectors to private participation with fewer regulations. Additionally, a substantial improvement in the quality of education is necessary to meet global standards and drive innovation and economic growth.We need policy changes to enhance private sector involvement and improve education quality to unlock India's full economic potential.

[@jittythomas3130]

N. Naranyanamurthy co-founder of Infosys has introduced the idea of 70 hour week for youngsters and the diffusion of low-tech in manufacturing in Indian industry, with the hope of creating more jobs.

[@user-mh9wb7sm6j]

The "70 hours" is a metaphor for very hard work. Anyone who built any enterprise, small or very small, knows it.

[@jittythomas3130]

@@user-mh9wb7sm6j but what about low-tech, it's wonderfully new.

[@keungpang2176]

Middle income trap, india is in the low income trap.😂😂😂