Breaking the Mould: India’s Untraveled Path to Prosperity is a big new book by the economists Raghuram Rajan and Rohit Lamba. The book is both a critique of India’s development mod ... Read more
Breaking the Mould: India’s Untraveled Path to Prosperity is a big new book by the economists Raghuram Rajan and Rohit Lamba. The book is both a critique of India’s development model as well as a manifesto for reform. Most notably, it challenges the conventional wisdom that India’s primary goal should be to transform the country into a blue-collar manufacturing powerhouse. Rajan and Lamba argue that India cannot duplicate China’s development model, but it has the opportunity to leapfrog by focusing higher up the value chain. To discuss the book’s ideas and its policy implications, Milan is joined on the show this week by Rohit Lamba. Rohit is an economist at New York University-Abu Dhabi and will soon be joining the Economics Department at Cornell University. He’s twice worked in the chief economic advisor’s office in the Indian Ministry of Finance. The two discuss what the critics get right about the Indian economy, why India cannot blindly follow the Chinese model, and how India can pivot “from brawn to brain.” Plus, Rohit and Milan discuss the manufacturing versus services debate, India’s inward economic turn, and what India must do to upgrade its human capital. Read more
The third phase of India’s 44-day long polls took place this week with voting held in 94 constituencies across 12 states. Thus far, the elections have been marked by lower-than-exp ... Read more
The third phase of India’s 44-day long polls took place this week with voting held in 94 constituencies across 12 states. Thus far, the elections have been marked by lower-than-expected turnout, intensifying communal rhetoric, and a sharp debate about inequality and redistribution. Against this backdrop, the New York Times Magazine recently published an essay by the journalist Samanth Subramanian titled, “Time Is Running Out for Rahul Gandhi’s Vision for India.” The essay was based on a reporting trip in February of this year in which Samanth traveled Uttar Pradesh with Rahul Gandhi, the former president of the Congress Party who remains its most promising face. Samanth is the author of several award-winning books, This Divided Island: Life, Death and the Sri Lankan War and A Dominant Character: The Radical Science and Restless Politics of J.B.S. Haldane. He has also long reported on India and Indian politics. To talk more about his recent essay, Samanth joins Milan on the podcast this week. On the show, he and Milan discuss Rahul Gandhi’s political vision, the tensions within the Congress Party, and Gandhi’s strengths and weaknesses as a politician. Plus, the two debate the party’s fortunes, its relationship with Muslims, and the Gandhi family legacy. Read more
The incumbent Bharatiya Janata Party (BJP) of Prime Minister Narendra Modi entered this election as the clear favorite with every single pre-election survey pointing a decisive vic ... Read more
The incumbent Bharatiya Janata Party (BJP) of Prime Minister Narendra Modi entered this election as the clear favorite with every single pre-election survey pointing a decisive victory. However, the party is leaving no stone unturned in its effort to notch a third consecutive parliamentary majority. To discuss the BJP’s campaign, Milan is joined on the show this week by Smriti Kak Ramachandran, a veteran journalist who covers the BJP for the Hindustan Times. Smriti has spent over a decade in journalism combining old fashioned leg work with modern story telling tools. Milan and Smriti discuss how the BJP is responding to lower-than-expected turnout in the first phase of voting, Modi’s communally-tinged speech in Rajasthan, and the surprising omission from the BJP’s manifesto. Plus, the two discuss the states the BJP is keeping a close eye on, from Odisha in the east to Tamil Nadu in the south. Read more
As India heads to the polls, a new chapter is being written in a very old debate about poverty and inequality in India. This debate has been stirred up by the release of new data f ... Read more
As India heads to the polls, a new chapter is being written in a very old debate about poverty and inequality in India. This debate has been stirred up by the release of new data from a government-sponsored consumption survey, which some have argued shows a massive decline in poverty in India. Others believe that this data are not so unequivocal and point to a widening gap between top income-earners and ordinary Indians. To make sense of this debate, Milan is joined on the show this week by Maitreesh Ghatak. Maitreesh is a Professor of Economics at the London School of Economics, where he has been the Director of the Development Economics Group at the research centre, STICERD, since 2005. He is a widely respected voice on India’s economic development and has been especially focused, in recent years, on questions of growth, poverty, and inequality. Milan and Maitreesh discuss the government’s recent consumption survey, contested claims that India has eliminated extreme poverty, and recent inequality trends. Plus, the two discuss the overall health of the macro-economy and the state of India’s statistical system. Read more
In just a few days, India’s eighteenth general elections will get underway with voting in the first phase kicking off on April 19. Between April 19 and June 1, India will have seve ... Read more
In just a few days, India’s eighteenth general elections will get underway with voting in the first phase kicking off on April 19. Between April 19 and June 1, India will have seven separate polling days culminating in a final counting of votes on June 4. Every single pre-election survey to date shows the ruling Bharatiya Janata Party (BJP) alliance of Prime Minister Narendra Modi winning a comfortable majority of seats in the Lok Sabha. If these predictions come to fruition, it would be the first time that a party has won three consecutive elections under the same leader since Congress during the Nehru period. To preview these elections—and what they mean for India’s future—Milan is joined on the show this week by Sukumar Ranganathan, editor-in-chief of the Hindustan Times. Few people in India have observed and analyzed politics, economics, and social change as comprehensively as Sukumar. Milan and Sukumar discuss the issues animating voters this election, the state of the economy, and the significant expansion of the BJP coalition. Plus, the two discuss the opposition’s struggles, the BJP’s big push in the southern states, and what we know about the agenda for Modi 3.0. Read more
On March 11, the Indian Defense Research and Development Organization conducted the maiden test of its Agni-V MIRV (Multiple Independently Targetable Re-Entry Vehicle) missile. MIR ... Read more
On March 11, the Indian Defense Research and Development Organization conducted the maiden test of its Agni-V MIRV (Multiple Independently Targetable Re-Entry Vehicle) missile. MIRV capability is a complex technology and there are only a handful of countries that have developed it. The test represents a breakthrough for India’s missile program but it’s also prompted warnings of a new arms race in the Indo-Pacific, a region already marked by sharpening geopolitical rivalries. To discuss India’s missile program, its defense posture, and its emerging space policy, Milan is joined on the show this week by Ankit Panda. Ankit is the Stanton Senior Fellow in the Nuclear Policy Program at the Carnegie Endowment for International Peace. He’s an expert on the Asia-Pacific region and his work encompasses nuclear strategy, arms control, missile defense, nonproliferation, and emerging technologies. Ankit and Milan discuss the significance of India’s MIRV test and the new “missile age” in the Indo-Pacific. Plus, the two discuss the China-India-Pakistan triangle, the importance of India’s 2019 anti-satellite test, and the future of India’s space policy. Read more
It seems wherever you turn these days, there are stories about India’s status as the fastest growing major economy in the world. Its growth rates remain the envy of both the develo ... Read more
It seems wherever you turn these days, there are stories about India’s status as the fastest growing major economy in the world. Its growth rates remain the envy of both the developed—and the developing—world. But what is really happening under the hood? What are the opportunities for India in a world riven by conflict and technological disruptions? And what challenges might it face as it tries to navigate these choppy waters? To talk about the nuts and bolts of the Indian economy, Milan is joined on this week’s show by the economist Pranjul Bhandari. Pranjul is chief India and Indonesia economist and managing director for global research at HSBC. Whether it’s breaking down the latest GDP print, forecasting India’s inflation dynamics, or dissecting India’s annual budget, Pranjul is one of the sharpest and most prolific observers of the Indian economy. Milan and Pranjul discuss the latest growth figures from India, the stickiness of inflation, and underwhelming consumption growth. Plus, the two discuss the puzzle of India’s foreign direct investment (FDI) inflows and what it will take for the “Make in India” program to succeed. The duo conclude with a discussion about the reforms India must prioritize if it is to achieve sustained rapid growth. Read more
A few weeks ago, the Indian government formally notified the rules implementing the controversial 2019 Citizenship Amendment Act, or CAA. The law provides persecuted religious mino ... Read more
A few weeks ago, the Indian government formally notified the rules implementing the controversial 2019 Citizenship Amendment Act, or CAA. The law provides persecuted religious minorities hailing from Afghanistan, Bangladesh, and Pakistan an expedited pathway to Indian citizenship, provided they belong to the Buddhist, Christian, Hindu, Jain, Parsi, or Sikh communities. Notably, the law does not provide such a pathway to those who belong to the Muslim faith. The notification of the CAA rules—on the eve of India’s 2024 general election—has kicked off a fresh debate over the law, its implementing provisions, and the resulting implications for the future of secularism in India. To discuss all of this and more, Milan is joined on the show this week by legal scholar M. Mohsin Alam Bhat. Mohsin is a Lecturer in Law at Queen Mary University of London, where he specializes in constitutional law and human rights. Mohsin has written extensively about law and citizenship in India. Milan and Mohsin discuss the origins of the CAA, its constitutionality, and the fine print of the CAA rules. Plus, the two discuss the situation in Assam, that state’s National Register of Citizens (NRC), and the prospects of an all-India NRC exercise. Read more
Over the last several decades, there have been monumental changes in the social, economic, and political lives of Dalits, who have historically been one of the most oppressed group ... Read more
Over the last several decades, there have been monumental changes in the social, economic, and political lives of Dalits, who have historically been one of the most oppressed groups in all of South Asia. A new volume edited by three leading scholars of India—Dalits in the New Millennium—examines these changes, interrogates their impacts on Dalit lives, and traces the shift in Dalit politics from a focus on social justice—to a focus on development and socio-economic mobility. D. Shyam Babu, who along with Sudhai Pai and Rahul Verma, is one of the co-editors of this important new book joined Milan on the show this week to talk more about their findings. Shyam Babu is a Senior Fellow at the Centre for Policy Research in New Delhi. His research focuses on how economic changes in India have been shaping social change and transformation for the benefit of marginalized sections, especially Dalits. The two discuss Dalits’ shift toward the Bharatiya Janata Party (BJP), the decline of the Bahujan Samaj Party (BSP) of Mayawati, and what “Ambedkarization” has done for the Dalit community. Plus, the two discuss the shortcomings Dalits experience in their “social citizenship” and the successes and challenges of Dalit capitalism. Read more
Two weeks ago, a five-judge bench of India’s Supreme Court ruled that electoral bonds—a controversial instrument of political giving introduced by the Narendra Modi government—viol ... Read more
Two weeks ago, a five-judge bench of India’s Supreme Court ruled that electoral bonds—a controversial instrument of political giving introduced by the Narendra Modi government—violated the Constitution and would immediately cease operating. Under the court’s ruling, the State Bank of India will immediately stop issuing bonds; the Election Commission of India must disclose details of all transactions since April 2019; and any bonds that have not yet been encashed are to be refunded. On this week’s podcast, Grand Tamasha host Milan Vaishnav—who has written extensively about campaign finance in India—takes a turn in the hot seat. In a special collaboration with DAKSH, a Bangalore-based non-profit working on judicial reforms and access to justice, Leah Verghese (host of the DAKSH Podcast) interviews Milan about the Court’s ruling and what it means for the future of political funding in India. The two discuss the history of campaign finance in India, the controversy around electoral bonds, and the controversy around foreign funding of elections. Plus, Milan and Leah discuss why ordinary Indians should care about the dynamics of election funding. Read more
