The third installment of the Pacific Council's BRICS Summer Teleconference Series, exploring India's current economic situation and future prospects.
Out of the five BRICS economies, India's alone stands out with annualized GDP growth north of 7.5 percent. As one of the world’s fastest growing economies, India continues to be an attractive market to foreign investors. However, the country is still feeling the effects of its 1991 currency crisis, with a more gradual growth rate than many investors would hope, thus leaving large numbers of Indians behind. As the Los Angeles Times reports, "Nowhere is this more apparent than in Mumbai, India’s most mashed-up megacity, where lavish penthouses with private pools overlook seas of tin-roofed shanties where half the 12 million residents live."
What's next for India? Can the country maintain its position as one of the world's fastest growing economies?
Listen to the full conversation below:
Dr. Meg Lundsager, Public Policy Fellow, Wilson Center, and Former U.S. Executive Director, International Monetary Fund
Dr. Meg Lundsager currently consults on international economic, financial, and regulatory issues. While United States’ Executive Director on the International Monetary Fund Executive Board (2007-2014), she focused on achieving effective IMF input into lending programs in Europe, securing adequate IMF resources, supporting low income countries, and strengthening IMF oversight of exchange rate policies. Read more.
Mr. Richard M. Rossow, Senior Fellow and Wadhwani Chair in U.S.-India Policy Studies, Center for Strategic & International Studies
Richard Rossow helps frame and shape CSIS policies to promote greater business and economic engagement between India and the United States. Prior to CSIS, he served as Director for South Asia at McLarty Associates, leading the firm’s work for clients in India and the neighboring region. Read more.
Ms. Nishtha Mishra, Assistant Policy Analyst, RAND Corporation
Nishtha Mishra is a Ph.D. candidate in economic policy, and an assistant policy analyst at RAND. Her master's thesis examined the state-level determinants of foreign direct investment flows in India. Read more.