Name: India: All Growth, No Jobs | Stephanomics Podcast
Uploaded: 2020-04-13T17:55:57.000Z
Duration: 1 min 57 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

no country in history has been ableto incorporate unskilled people from the rural economy into a growing middle class.

To-infinitive

In with the cure job without building a manufacturing sector, it is possible, surely, perhaps, to do it without.

But unless you've got oil or something, you can't there's no there's no road map.

India have bean de industrializing since the late nineties, which means that the contribution of industry to GDP peaked in around 96 97 and since then it's been going down.

Some people listening may have the same experience that I have the the the Indian business people that one sees that conferences or interviewed often on Bloomberg or anywhere else.

You get the sense of an incredibly dynamic economy, really digitally switched on, developing things that actually are ahead in many cases of advanced economies.

On the digital front, if you listen to those people, you would think, Wow, India is going to be ableto ride the wave of all these technological changes that are happening around the world that everyone fears India is going to clean up a za result of those changes.

Well, I mean There are two things to be said that the first of, um one should never trust what people in Indian business say only what they do on DDE when they start investing in India.

Then I will take their claim that India India has a bright future.

 Seriously, we have a crisis, and private investment has been shrinking for four years as a proportion of GDP, and that doesn't appear to have cleared up yet, so they don't appear to have confidence in where they're putting their money, so I don't believe anything they say. 