Amartya Lahiri and Devashish Mitra on Trade and Manufacturing-Led Economic Growth in India

Ideas of India

Today my guests are Amartya Lahiri and Devashish Mitra who are joining me to discuss their latest paper for the 1991 project titled India’s Development Policy Challenge. Amartya Lahiri is the Royal Bank Research Professor in the Vancouver School of Economics at the University of British Columbia (UBC). Devashish Mitra the Gerald B. and Daphna Cramer Professor of Global Affairs at the Maxwell School of Citizenship and Public Affairs, Syracuse University. We spoke about structural transformation and increasing total factor productivity, manufacturing versus services led growth, industrial policy, export led growth, how to employ India’s youth in more productive sectors, and much more.

Recorded July 29th, 2024.

Read a full transcript enhanced with helpful links.

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Timestamps

(00:00:00) - Intro

(00:01:27) - State of India’s Structural Transformation

(00:08:28) - Has India’s Growth Peaked?

(00:15:39) - Trade-, Export-, and Manufacturing-Led Growth

(00:27:50) - Manufacturing-Led or Services-Led Growth Model?

(00:47:16) - Scaling Manufacturing

(00:59:38) - Labor Productivity in India

(01:06:41) - Rising Protectionism

(01:19:44) - Monetary Policy and Trade Policy

(01:35:26) - Outro