How India can escape the middle income trap

At India’s current per capita levels of $2,540, even upper middle-income status is some years away. What is required now is the infusion of new, modern technologies and business models along with investment. For graduating to high-income, additionally, innovation will be needed

Middle-income countries have for long been relying on investment-led, foreign capital-led strategies to grow which may not work anymore.

SA Raghu is a columnist who writes on economics, banking and finance. Views are personal and do not represent the stand of this publication

first published: Sep 9, 2024 08:04 am

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How India can escape the middle income trap

At India’s current per capita levels of $2,540, even upper middle-income status is some years away. What is required now is the infusion of new, modern technologies and business models along with investment. For graduating to high-income, additionally, innovation will be needed

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