Former governor of the Reserve Bank of India, Raghuram Rajan, discussed strategies for India’s economic growth at a special event in Hyderabad. He emphasized the importance of focusing on India’s human capital as a key asset for value creation. Rajan co-authored a book called ‘Breaking the Mould’ which provides practical paradigms for fast-tracking India’s growth and fostering innovation. He also highlighted the need to address issues like malnutrition, healthcare, and education before aiming to become a developed economy.
Rajan mentioned that India historically struggles with implementation, but acknowledged that the government has made progress in infrastructure development. He emphasized the long-term impact of addressing problems like malnutrition on the labor force. Rajan advised young people, including students at Indian School of Business (ISB), to consider entrepreneurship as a way to create jobs and contribute to the country’s growth.
Co-author Rohit Lamba encouraged youth to engage with ideas and have constructive debates without questioning each other’s intentions. Prior to the book discussion, Rajan attended the ISB-NBER annual conference on Economic Policy and the Indian Economy, where various experts discussed important topics.
Currently, Rajan serves as the Katherine Dusak Miller Distinguished Service Professor of Finance at The University of Chicago Booth. He previously held positions such as the Chief Economist and Director of Research at the International Monetary Fund. His research interests focus on banking, corporate finance, and economic development.
