News Snapshot:
In an earlier column, I wrote about growth scenarios that will shape India’s path to the ranks of middle-income countries (MICs). In this column, I examine the role that a central character in this story—the Indian firm—is playing, and must play, in India’s transformation. I use the Prowess database—assembled and managed by the Centre for Monitoring Indian Economy—to estimate the age and size structure of India’s firms. For the 2016-2021 period, it includes comprehensive data on 12,460 firms This group includes almost all listed firms and many, but not all, privately owned firms. Several caveats are to be noted at...
