Ruchir Sharma and Prannoy Roy discuss economic progress

New Delhi:

Global investor and author Ruchir Sharma discusses India's 75-year-old economy with NDTV's Prannoy Roy.

Ruchir Sharma said, the good news is that India is on the path of economic progress. 

Here are the highlights of Prannoy Roy's conversation with Ruchir Sharma...

* Progress of India's economy so far:

We started from 6th position and are still at 6th rank.

The path of development of India has taken a new form.

The 60s, 70s were a very terrible period for India.

We returned to the phase of growth again from the 1980s. 

* India's per capita income as compared to the world:


It is a V shape, which shows that we have made a tremendous comeback.

We are where we were on the original data.

This is the story of per capita income, which is the biggest economic measure of the success of a country, it gives big indications.

 * We are back in global competition.

India's per capita income has increased and its global ranking has also risen. 


Ruchir Sharma said, India has made remarkable progress in the last 75 years and has also made a big comeback in the history of 75 years. 

*China's return is more spectacular:


In the 1990s, there was a huge boom in the construction of cities in China.

The large number of cities that have come forward, it is very spectacular. 

In the case of India, in any rural area, only 10 per cent of the people come from other districts.

Migration is very less, which is quite the opposite of China. 

It is very difficult to repeat what China did, but still we can imitate.

*As far as life expectancy is concerned:


In all indications, our economic progress has been remarkable compared to others, comparable to others and a little less than others.

* Progress made in the field of education so far:

*India's progress in economic freedom.

We are still not more financially free than other countries.

So, according to statistics, the more prosperous a country is, the greater is the economic freedom.

*India's stock market:

* India's stock market has given success to many:

The number of billionaires in India is increasing continuously

* The size of the government is constantly decreasing

Government ownership in the market has come down from 15 per cent to 5 per cent.

There has been loss of property to the government and the taxpayers, as the ownership in the stock market has decreased.


*Billionaires boom in India - 3rd largest number in the world:

Out of these 140, more than 110 are new billionaires.

India has produced over 110 billionaires in the past decade and many of them are from manufacturing, healthcare and technology sectors that India needs.

Very encouraging picture.


* Journey of Rs.


The rupee has depreciated by ₹75 in the last 75 years.

Today Rupee is at a very cheap and competitive position.

Where are we going:

*The story of high growth is no longer visible:

There will hardly be any country where there is a growth of 7 percent.

The peak was in 2007, when many countries were growing at more than 7 percent, hardly any now.

*Due to slow pace of development : 4D

These are the 4D factors, due to which the rate of economic growth is coming down every year.

*India's population growth is falling:

*The population of other countries is declining faster than China:

*Women Labor Participation:

Increasing participation of women in the labor sector will change the growth rate of our country.

*New benchmarks of economic success: India will do well to sustain 5 per cent growth 

* Sustaining high growth: India has done well so far

*India on track to become 3rd largest economy in 10 years:

If we continue on this baseline, then by the year 2032, India will become the third largest economy in the world. 

* How long will it take for India to double its per capita income:


*Improving India's Inflation Performance:

If we compare with other countries, we are better now than we were ten years ago.

Inflation is an issue in India but it is an issue of the rest of the world.

*Where is the stock market going:


The trend of Indian stock is well above its long term trend.

If it gets more domestic investors, if it gets more investors, the returns could be higher, but assuming the trend will increase by 8 percent in 10 years.

*Competitive Price of Rs.


Rupee is very competitive today which is good for our exports

*India is digitizing faster than the world:

*Leakage less due to digitization:

 Pro incumbency in India is...

Important things...