Eminent Indian-born economist Jagdish Bhagwati, who is positioning himself to advise Narendra Modi if the opposition leader becomes India's next prime minister, would urge him to allow more foreign investment and trade to spur slow growth and curtail government spending.
Amid US-China trade tensions and economic vulnerabilities, India must seize the 'China +1' opportunity, deepen reforms, secure FTAs, and globalise its firms for long-term growth, suggests Ajay Shah.
The prestigious Columbia University in the United States has established a chair in Indian Political Economy to be named after noted economist Jagdish Bhagwati.
Bhagwati criticised Amartya Sen for supporting the Food Security Bill, saying it is going to fuel inflation.
If the WTO talks in Bali fail, it will adversely impact India.
Free trade proponents to be tapped for Nobel economics prize
'We don't have to go abroad for anything.' 'Anyone who thinks we have a lot to learn from the US needs to have his head examined.' 'We are in a new era.'
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Jagdish Bhagwati, professor of economics and law at Columbia University, tells Nayanima Basu he is not anti-redistribution, adding the crucial issue is where the money would come from.
Minor disagreements between Jagdish Bhagwati and Amartya Sen have amplified into a shouting match.
Jagdish Bhagwati keeps the debate with the Nobel Laureate raging in this interview with Sheela Bhatt.
While international service standards require passage through the tollgate in about five seconds per vehicle, the actual time taken in India is usually a large multiple of that.
What will it take the next government to revive growth? Arvind Panagariya, Jagdish Bhagwati Professor of Indian Political Economy at Columbia University, and one of the world's leading economists, offers a checklist.
Economist Arvind Panagariya tells Suman Guha Mozumder that the rupee is doing a much-needed clean-up job, raising exports and cutting imports. And it must be allowed to do so.
India can never be a truly happy, prosperous country unless our passion for growth is combined with compassion for the poor, said Chidambaram.
Interview with Arvind Panagariya, Jagdish Bhagwati Professor of Indian Political Economy at Columbia University.
Standard and Poor's in its report on October 10 had said that there was one-in-three likelihood of rating downgrade for India in 24 months if 'the country's economic growth prospects dim, its external position deteriorates, its potential climate worsens, or fiscal reforms slow'.
Despite the presence of renowned economists and entrepreneurs, it was Kiran Bedi, a retired police officer-turned activist, who stole the show at the Eighth Annual Indian Business Conference at the Columbia University last week. Suman Mozumder reports
Is the unfolding Bhagwati-Sen debate likely to have the same impact on economic policy in India as Hayek versus Keynes had on the West?
Barack Obama is the worst US president as far as outsourcing is concerned, says Jagdish Bhagwati.
Jagdish Bhagwati, University Professor, Economics and Law, Columbia University, delivered the Third Hiren Mukerjee Memorial Annual Parliamentary Lecture in the Central Hall of Parliament House on December 2, 2010. Here are the edited excerpts of his excellent analysis of how the economic reforms have benefited India:
A high-level expert group will provide recommendations on boosting global business through trade liberalisation.
Between March 2010 and October 2011, RBI had 13 rate hike.
India had been growing around 8-9 per cent before theglobal financial meltdown of 2008. The growth rate in 2011-12 slipped to nine-year low of 6.5 per cent.
If the World Trade Organisation lost credibility, developing markets would take a hit.
Stability and efficiently meeting equity should be the objectives of the forthcoming Budget.
Noted economist Arvind Panagariya says India is an emerging power. With liberalisation, Indian entrepreneurs have emerged and they are top class.
The Prime Minister's global advisory council has been constituted. The setting up of the council was announced by the Prime Minister at the Pravasi Bharatiya Divas in Chennai.
The government of India has set up the B R Ambedkar Chair in Indian Constitutional Law at the Columbia University Law School. It also established the Jagdish Bhagwati Fellowships at the law school to help students from India.
The demographics favour India, as it is a relatively young country with more working people than anywhere else
Prime Minister Manmohan Singh said on Thursday that India has overcome the problem of 'brain drain' and is drawing on the global 'brain bank' of people of Indian origin.
The global success of people of Indian origin gave hope and showed the way to a new India.
'The Indian economy is at a crossroads,' says Professor Jagdish Bhagwati, a University Professor at Columbia University and senior adviser to the Institute.
Will India really beat China in future or if not beat, can it at least catch up with it? We asked common people to speak on the issue and came across some interesting viewpoints.
An official announcement to this effect would be made next week. The vice-chairman would be of Cabinet rank.
I suggest we build a Vigyan Mandir (Temple of Science) with the ambience of a place of worship, so that it becomes a destination for pilgrims. We should embed on its walls bronze plaques describing each scientist mentioned here along with about a dozen of our ancient mathematicians, recommends Professor Kalyan Singhal, historian of science and technology.
Reforms have to accentuate if we have to reach a double-digit growth rate. That's the only way to be able to spend more on social issues like health and education, says Jagdish Bhagwati.
Eminent economist Jagdish Bhagwati said India had made a mistake in aligning with China at the recent climate conference in Copenhagen. Instead, the country should have taken a leadership role in climate talks by coming forth with fresh ideas.
He was most recently credited as one of the brains behind labour law reforms in Rajasthan
Noting that he was in India in January, Bhagwati said there is no way anybody in India could be prevailed upon to make the kinds of concessions that are required by the US farm lobby, against a cut of only $3 billion.
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