Raghuram Rajan: your doctor could be in India

The market for services is global, and many of us are used to having our issues fielded by someone in India. For decades, big companies in the US and Europe have set up global capability centers in India to handle back-office operations. In this episode, we hear from Chicago Booth’s Raghuram Rajan, who sees the future of India’s economy as moving from the back office to the front-of-house. This is the second of our two conversations with Rajan about his new book, Breaking the Mold: India’s Untraveled Path to Prosperity.

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One minute he says manufacturing is the way, and the next he says services is the future for India, as well as Africa. Do economists these days play to the crowd in the audience, or maybe they are playing politics, and geopolitics as well? I believe they are! And so is the media as the money trail says it best.