May 19, 2024 04:51 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Arvind Kejriwal to march with AAP leaders to BJP HQs tomorrow with an 'arrest' dare | Adhir Chowdhury won't decide, he will be axed if he doesn't...': Congress chief Mallikarjun Kharge on alliance with Mamata Banerjee | Swati Maliwal assault case: Arvind Kejriwal's aide Bibhav Kumar arrested by Delhi Police | DK Shivakumar offered me Rs. 100 crore to defame Modi: Arrested BJP leader G Devaraje Gowda on Karnataka sex scandal | Swati Maliwal assault case: New video shows AAP MP escorted out of Arvind Kejriwal's home
Raghuram Rajan explores strategies for India's economic future in ISB discussion Indian Economy
Image Credit: wikipedia.org

Raghuram Rajan explores strategies for India's economic future in ISB discussion

India Blooms News Service | @indiablooms | 18 Dec 2023, 01:55 pm

Hyderabad/UNI: Former Reserve Bank of India (RBI) Governor, Raghuram Rajan, shared insights into key strategies that can propel India's growth in the coming decades during a discussion on his latest book, 'Breaking the Mould: Reimagining India's Economic Future,' at the Hyderabad campus of the Indian School of Business (ISB).

Engaging in a conversation with Bhagwan Chowdhry, Professor of Finance at ISB, during a special event on Sunday evening, Rajan underscored the importance of focusing on untapped human capital for India's economic growth.

He emphasised, "We have to focus on India’s most important asset, which is its human capital.

"We have 1.4 billion people, more than any other country in the world. If we can train a large number of these people well, then we have access to so much in terms of value creation! I would say, Let’s start with that. Figure out what’s going wrong there and fix it."

The book, co-authored with economist Rohit Lamba, offers a reality check on India's processes and approaches, proposing practical paradigms to fast-track the nation's growth and foster innovation.

Responding to a question on infrastructure development, Rajan acknowledged historical deficiencies in implementation but noted recent progress in government initiatives.

He also highlighted the importance of addressing issues like malnutrition before setting grand economic goals, emphasizing the long-term impact on the labor force.

In advice to young people, including ISB students, Rajan encouraged entrepreneurship, stating, "You can do the multiplier effect by taking up entrepreneurship.

"This is what people expect from business schools." Co-author Rohit Lamba urged the youth to engage with ideas and debate constructively.

Rajan, the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth, attended the ISB-NBER annual conference on Economic Policy and the Indian Economy before the book discussion. The conference featured discussions by notable economists, including Viral V. Acharya and Professor James Poterba.

Raghuram Rajan served as the 23rd Governor of the Reserve Bank of India from September 2013 to September 2016 and was previously the Chief Economist and Director of Research at the International Monetary Fund from 2003 to 2006.

His research interests include banking, corporate finance, and economic development.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.