“India's Long-term Growth Experience: Lessons and Prospects”

Monday, October 9, 2006
by Dr. Sadiq Ahmed

Dr. Sadiq Ahmed, Sector Director, Poverty Reduction and Economic Management Unit, South Asia Region, World Bank outlined the story of Indian economic growth by dividing it into two phases, the1950- 80 and 1980 onwards. During the second phase, Dr. Ahmed pointed out that the services sector has outdone the manufacturing sector. He also said that wages in the formal manufacturing sector have remained high compared to the informal sector wages. Consequently, employment in the formal manufacturing sector has remained stagnant. According to Dr. Ahmed, proper education, training and improving the health standards of the people will create a better living standard for the underprivileged.