Showing 1 - 10 of 12
Lesson from India to avoid the middle-income trap
Oped, Arvind Panagariya, Published on 18/03/2026
» Among Indian Prime Minister Narendra Modi's most ambitious goals is to transform his country into a developed economy by Aug 15, 2047 -- the centenary of Indian independence. Given India's growth record over the past two decades, the speed and scale of its infrastructure development in recent years, and the Modi government's willingness to enact large-scale economic reforms, India is likely to become one of the few developing countries to avoid the middle-income trap.
India's power sector needs reform
Oped, Arvind Subramanian, Navneeraj Sharma, Abhishek Anand & Praveen Ravi, Published on 06/08/2025
» As the use of energy-guzzling AI grows, the countries that embrace renewables will gain an obvious competitive advantage. And on this front, China has established a substantial lead. According to the Financial Times, the country is on track to source 50% of its power from renewables (mainly solar and wind, but also nuclear, hydro, and battery-storage systems) by 2028.
Trump's return presents an opportunity for India
Oped, Arvind Subramanian, Published on 10/12/2024
» It might be tempting to assume that Donald Trump's return to the White House augurs stability in US-India relations. After all, there is strong bipartisan support in Washington for deeper ties, particularly as a counterbalance to China's growing economic and geopolitical influence.
China's globalisation paradox
Oped, Arvind Subramanian, Published on 30/08/2024
» China's trading partners are once again fretting about the country's supposedly unfair economic practices. This time, the focus is on China's alleged attempt to export its excess capacity, especially in emerging sectors such as electric vehicles (EVs), and to undermine domestic industries in the United States and Europe.
'New Welfarism' becoming India's soothing balm
Oped, Arvind Subramanian & Josh Felman, Published on 06/05/2023
» During the height of the Covid-19 pandemic, many Indian economists and commentators believed the economy would skyrocket as soon as life returned to normal. But, despite the country's robust recovery in the two years since the pandemic's peak, the predicted boom has not materialised, nor does it seem imminent.
Global accord not necessary in climate battle
Oped, Arvind Subramanian, Published on 12/11/2022
» This week's United Nations Climate Change Conference (COP27) in Egypt highlights the growing consensus that multilateral cooperation is necessary to avert environmental catastrophe. But with geopolitical tensions spiking and the US-China rivalry heating up, such efforts seem doomed to fail, much like previous efforts to promote global coordination on vaccines, trade, technological innovation, and macroeconomic policy.
The West has got its Russia sanctions all wrong
Oped, Arvind Subramanian & Josh Felman, Published on 14/05/2022
» The West responded to Russia's invasion of Ukraine with sanctions of unprecedented severity and scope. By the standard of proportionality, the reaction of the United States, the European Union, and their allies seem appropriate. Serious international aggression demands a serious response. But by the standards of consistency, efficiency, and fairness, it is far from clear that the West has chosen the correct strategy. Governments may need to rethink the design of the sanctions regime.
The paradoxes of the Bangladesh miracle
Asia focus, Arvind Subramanian, Published on 28/06/2021
» Ravaged periodically by natural calamities, long dependent on foreign aid and remittances, and a perennial source of refugees and emigrants, Bangladesh was once "a basket case of misery", as Zia Haider Rahman put it in his great debut novel, In the Light of What We Know.
The next big development challenge
Asia focus, Arvind Subramanian and Josh Felman, Published on 03/02/2020
» We have suddenly arrived at a tricky stage in global economic development. Emerging markets are losing their dynamism, after a remarkable three-decade run during which they caught up rapidly with advanced economies.
The coming China shock
Asia focus, Arvind Subramanian and Josh Felman, Published on 25/02/2019
» In September 2018, we argued that China's economic and foreign policies were defying the "laws" of economics and geopolitics and warned that the situation could not last. Since then, our assessment has been borne out and our concerns have deepened.