"The future of India: The 'middle-income trap' & innovation in the world economy" a talk by Prof. Dev Nathan at Teen Murti House, Teen Murti Marg > 3pm on 15th May 2013

Time : 3:00 pm

Entry : Free (Seating on First-Come First-Served basis)

Place : Seminar Room, Nehru Memorial Museum & Library (NMML), Teen Murti House, Teen Murti Marg, New Delhi
Venue Info :  Events | About | Map | Nearest Metro Station - 'Race Course(Yellow Line)'

Event Description : The Nehru Memorial Museum and Library cordially invites you to a Public Lecture
in the ‘India and the wider World’ series on ‘The future of India: The ‘middle-income trap’ and innovation in the world economy' by Prof. Dev Nathan, Institute for Human Development, New Delhi.

Abstract : The rapid growth of India, and even more so of China, has changed the contours of the world economy. This lecture will deal with the challenges that India faces in the next phase of its economic development. In the short-term there are issues related to the ongoing imbalances (current account and fiscal deficits, and high inflation) and matters of investor confidence that need to be dealt with in order to return to higher growth rates. In the medium-term it is necessary to deal with the continuing overall human development and gender development deficits. Will the demographic dividend turn into a demographic nightmare? While outlining these and related problems, the lecture will concentrate on the long-term challenges in moving beyond the current low-middle income status of India in the world economy. Once the possibilities of catch-up development have been exhausted, economic growth will require moving on to the path of innovation. Some segments of India’s economy have already matured and face the challenge of innovation. ‘Frugal engineering’ is spreading as an innovation system that economizes on the use of materials and energy in production, while serving high-volume, low-value markets. But the major challenge is that of establishing a position in the emerging new technologies of renewable energy. Breaking out of the ‘middle-income trap’ is only possible with a shift from ‘catch-up’ to innovation. While dealing mainly with India, the lecture will also draw some comparisons with China and other emerging economies.

Speaker : Prof. Dev Nathan is a social scientist. A Professor at the Institute for Human Development, New Delhi, he is also a Visiting Research Fellow at the Centre for Globalization, Governance and Competitiveness (CGGC) at Duke University, Durham, USA. He was also awarded Honorary Professor by the Institute of Ethnology, Yunnan Academy of Social Sciences, Kunming, China. His research interests include labour conditions in global development and the development issues of indigenous peoples. Some of his recent publications are 'Profits, rents and wages in global production networks', Economic and Political Weekly and 'Markets and Indigenous Peoples in Asia' (OUP). At present he is Coordinator of the IHD-ILO-ESCAP-IDRC project on 'Promoting Inclusive Growth in South Asia.'

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