News Snapshot:
In some ways, the India of today is similar to the China of 2007. As per Moody’s, the Indian economy has recently crossed $3.5 trillion in size. The IMF expects it to exceed $3.7 trillion this year. A decade and a half ago, the Chinese economy was of comparable heft. China then had a per capita income of $2,694, while the IMF expects India’s per capita income to rise from $2,379 in 2022 to $2,601 in 2023. Though there are other areas of similarity, more profound are the points of divergence. These have implications for India’s growth trajectory. For one,...
