EML | Dr. Indermit Gill Live at IIT Madras

Extra Mural Lectures (Estd. in 1982) - Flagship lecture series, IIT Madras aiming to facilitate interaction between students and speakers from diverse fields.
Indermit Gill, the Chief Economist of the World Bank Group and Senior Vice President for Development Economics, is renowned for his leadership on the influential 2009 World Development Report on economic geography. He is also known for introducing the concept of the 'middle-income trap,' which describes how countries can stagnate after reaching a certain income level. His insights on global economic development are invaluable.
In this talk, titled "India and the Middle-Income Trap," Gill shares invaluable insights on global economic development, focusing on the challenges and opportunities facing India.
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[@madhusudanjeurkar3178]

IItians are really privileged to get such enlightening lectures.

[@rohitrai6187]

Yet this hall is not packed

[@S_VivekAnand]

Sure, How does it make a difference to people in their day2day life❓❓❓

[@S_VivekAnand]

Yes 🚽 enlightened🚽

[@The_Viking970]

If women's participation in India's economy matched that of Western countries, our GDP could be at least 25% to 80% higher, potentially making us the third largest economy in the world. Currently, India's defense manufacturing sector is valued at around $8 billion, contributing less than 2% to the GDP, compared to the U.S., where defense manufacturing contributes approximately 12%. In the space sector, India lags significantly behind, with U.S. private firms employing around 360,000 people in the private space industry. Similar disparities exist in sectors such as semiconductors, AI development, and quantum computing. It is crucial to open the defense and space sectors to private participation with fewer regulations. Additionally, a substantial improvement in the quality of education is necessary to meet global standards and drive innovation and economic growth.We need policy changes to enhance private sector involvement and improve education quality to unlock India's full economic potential.

[@rakadus]

If women participation in the economy improves, reproduction rates fall. Demographics change resulting in need for immigration. Immigration unleashes forces of cultural differences and assimilation resulting in social disharmony. This has been the cycle that "west" has gone through from 1947 till date. Japan, since it wanted to remain culturally homogeneous, is facing an aging population. Women labour participation is essentially like debt. Benefits today, definitely. What the long term costs are not clear. But, definitely not positive.

[@thecomment9489]

LOL. Just fantasy. I have never understood this fascination with affirmative action whether needed or not needed. Already there are no jobs for the male population and if female population participation is as high as in developed economies then there will probably be rioting and vandalism. If plenty of jobs are available then will there be any need of forced affirmative action?

[@The_Viking970]

@@rakadus This argument is morally and ethically flawed because both women and men are equally responsible for raising a child. It's a typical Indian mindset to view women in this light. From a numerical perspective, India's birth rate has been falling over the past few years, not because of women joining the workforce, but due to the increased cost of living and other economic factors. India has one of the healthiest populations in the world, and women's participation in the workforce is unlikely to significantly affect this. We can implement new laws to protect women's jobs and provide more maternity leave. In developed nations, men also receive paternity leave. Additionally, mechanisms such as remote work and flexible hours give women more freedom and time during pregnancy. We must view women as equal to men. However, our Indian culture often does not support this equality. If both husband and wife work the same hours, by the end of the day, the husband typically relaxes while the wife goes to the kitchen to cook and then does all the housework. This typical Indian practice needs to change for us to realize our full growth potential of 25-80%.

[@MAC-vi7fy]

Anyone who has studied economics can tell you that middle income trap is a direct result of socialist and welfarist policies. We have seen it time and again and still people dont realise, vote for socialist and stay poor.

[@S_VivekAnand]

😂😂😂😂🚽B🚽S🚽absolute 🚽BS🚽

[@jittythomas3130]

Another great idea is to get built 10 or 11 large companies in India with the conviction the it is the only way to foster a large number of MSMEs probably using high value low-tech in them and so create more jobs.

[@thecomment9489]

LOL

[@MAC-vi7fy]

Anyone who has studied economics can tell you that middle income trap is a direct result of socialist and welfarist policies. We have seen it time and again and still people dont realise, vote for socialist and stay poor.

[@thecomment9489]

The example of Brazil is very relevant here. Yes Brazil like India is considered to be the country of the future but the future never arrives. Brazil has been in the middle income trap from the last 50 years and Brazil was also very innovative as well in some fields like in aircrafts manufacturing other than Airbus and Boeing it was only Brazil that produced commercial planes that is before the Airbus & Boeing duopoly ended Brazil's airlines manufacturing. And India seem to be following the similar policies probably because of similar level of IQs of those running these countires.

[@gamer-ff6mh]

What about IQ of those who choose the leaders. One has to look at the IQ of the heads of family in every household in India. If you take shit from your pa or grandpa and can't stand up to your own blood, forget about standing up to head of caste and head of city/state/nation. The culture must evolve beyond revering mom, dad and teacher as God first...then it will stop worshipping political leaders too

[@keungpang2176]

Middle income trap, india is in the low income trap.😂😂😂

[@thecomment9489]

Yes but these people fantasise themselves as citizens of some developed country and then give their lectures accordingly because all the economic theories and policies are copy-pasted from the developed economies of West whose populations are less than our individual cities let alone states.

[@thecomment9489]

Ambassador car as boiled egg on wheels 😂😂😂😂😂😂

[@jittythomas3130]

N. Naranyanamurthy co-founder of Infosys has introduced the idea of 70 hour week for youngsters and the diffusion of low-tech in manufacturing in Indian industry, with the hope of creating more jobs.

[@user-mh9wb7sm6j]

The "70 hours" is a metaphor for very hard work. Anyone who built any enterprise, small or very small, knows it.

[@jittythomas3130]

@@user-mh9wb7sm6j but what about low-tech, it's wonderfully new.

[@S_VivekAnand]

😂😂😂😂😂When will a 24 hour work day be recommended 365 days in a year 😂😂😂😂

[@jittythomas3130]

@@S_VivekAnand Dear good Vivekananda, 70 hour week for work is no joke as your reply could be. It is an idea put across, born out of a sincere concern to reclaim the lost prosperity in the Indian economy. The Chinese work hard(forced or voluntarily) and so there is only the Indian military which works equally well. If we are to match China we have to work hard equally well. This is what is the essence and implication of what has been proposed by N. Narayanamurthy. These are very valuable suggestions and not a 24 hour fancy.

[@S_VivekAnand]

Dear Self respecting young IITians of 🇮🇳 The economic growth rates of the 🇺🇸 & 🇨🇳 are now gradually & steadily going south. Please challenge these IMF stooges using their own means, what they worship as sacroaanct & non questionable

[@ankit7343]

Can we get the pdf?

[@S_VivekAnand]

Make your own buddy😂😂😂😂

[@S_VivekAnand]

It's very unfortunate that these IMF fellows who were 🇮🇳ians are back in 🇮🇳 not to encourage the younger generation but they are demotivating the future leaders

[@S_VivekAnand]

This Gill fellow tried to show the PM of 🇮🇳 Mr Narendra Mody in poor light, by talking about a IMF fellow ☪️stooge☪️ who was trying to promote M🇮🇳I🇮🇳GA by ✝️&☪️