The story of the week: India’s economic miracle.
The Times’ latest story about India.
And the NYT has been telling the story of India’s success story, the economy, in a way that few other media outlets do.
It is a remarkable and powerful piece of journalism that is being read by millions.
And, to the delight of many in India, it has been received with such passion by Indian readers that we are going to share the most important piece of the story with you right now.
I would like to tell you about the two key elements that have led to India’s miraculous growth over the last 20 years, and what we hope will bring about the next 20 years.
In the next 10 minutes, we will delve into how the new government, the Indian public, and the private sector have been working together to bring about this miracle, and how we believe that this is the key to the country’s success.
For the next two weeks, the Times is hosting a panel discussion on India, and I am going to be moderating the discussion.
I will be joined by Rajan and Nandini Shukla, the editors of The Times.
I want to welcome you to the panel discussion.
We welcome you all, and we are happy to welcome any one of you.
And so, welcome to the discussion, Rajan.
The first thing we have to talk about is the economic miracle in India.
How has India transformed itself into a superpower?
Let me start by talking about the economic miracles.
India has always been an economic basket case.
It has been the most unequal country in the world, a country that had one of the lowest per capita income growth rates in the industrialized world.
Its per capita gross domestic product (GDP) per capita has never been higher.
Its gross domestic investment (GDI) per person has never gotten bigger.
And its per capita debt has never, in any of the last 200 years, been lower.
It was always the most economically vulnerable country in Asia.
We are talking about a country where the average family’s disposable income is about 50% below the national average.
And it was always going to have the same economic problems.
But what happened is that India became an economic powerhouse in the early 2000s, and it transformed itself from a basket case into a super power.
We can see this in the rapid rise in India’s GDP and its GDP per capita.
India’s gross domestic products (GCP) have more than doubled in the last three decades, from $3.0 trillion in 2001 to $7.5 trillion in 2017.
That was the year when Prime Minister Narendra Modi took over.
And as you will see in this piece, India has also grown in every important sector of the economy.
The growth in the IT sector is staggering.
We have the largest number of software developers in the country.
The number of doctors has grown from about 2,000 to about 3,000.
And then, the number of scientists has also risen dramatically, from less than 50 to more than 1,000 scientists.
India is the only country in which the number and growth of engineers and scientists have tripled.
India also has the largest percentage of its population in the labor force, which is a huge boon to India.
It means that it has more people working than the world’s labor force.
And this is something that the new prime minister, Narendra Modi, has talked about many times.
And we have also seen a tremendous growth in manufacturing in India over the past few years.
India was the second largest importer of American manufactured goods, and India now accounts for about a quarter of all foreign direct investment in India by value.
This is what has led to a dramatic shift in Indian manufacturing.
And now, in the past three years, manufacturing has grown at a staggering pace.
We will get to that.
We need to talk a little bit about the growth in real estate.
This has been one of India, if not the single biggest contributor to growth in its real estate sector.
India became the most valuable real estate producer in the whole world in the first half of the 20th century.
And India was very much an agrarian economy.
That is, India produced most of its own food, and almost all of its food was imported.
The agricultural economy in India was based on rice, barley, wheat, corn, and sugarcane.
In other words, a lot of our agricultural exports were to the West.
And a lot was exported to China, the world leading economy.
And China was the largest importers of rice and wheat.
And rice, wheat and corn were all the crops that the British were using to produce the first mass-produced grain in India: wheat for flour, rice for the rice flour, and so on.
So the British relied on this supply.
And Indians were going to import grain and grains.
The British were exporting grain and grain to India to produce their own grain and to feed their own population.