India’s Economic Growth vs. Per Capita Income Explained | Open Dialogue | Episode 33

India is now the world’s 4th largest economy — but why is per capita income still so low?

In this episode, we explore the disconnect between India’s GDP growth and individual prosperity. Neelkanth Mishra breaks down the structural reasons behind low income levels and what India can learn from other fast-growing economies.

Watch for clear insights on how India can turn growth into real gains for its people.

Speakers —
Sameer Shetty: Group Executive - Digital Banking & Strategic Programs, Axis Bank
Neelkanth Mishra: Chief Economist, Axis Bank & Head of Global Research, Axis Capital

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#IndiaGrowth #PerCapitaIncome #EconomicDevelopment #PovertyReduction #HumanCapital #FormalJobs #MiddleClassIncome #Innovation #StateReforms #UrbanHousing #EducationMatters #HealthForAll #RisingIndia #InclusiveGrowth #India2030

Chapters
00:00 - Introduction: The Importance of Formal Jobs and India’s GDP Milestone
02:23 - Comparing India’s Per Capita Income Globally
04:15 - Progress Over 30 Years: Rankings and Catching Up
06:42 - Historical Perspective: Poverty Reduction and Persistent Challenges
07:57 - Purchasing Power Parity and Poverty Metrics
10:44 - What $3,000 Per Capita Means for the Average Indian
13:01 - Regional Disparities: States and Cities
15:14 - The Role of Formalization and GDP Growth
16:29 - Pathways: Low Income to Middle and High Income
18:19 - Middle Income Trap and the Need for Innovation
21:07 - Global Context: Assisted vs. Resisted Rise
23:25 - Income Classifications: Low, Middle, and High Income
25:10 - Consumption Patterns as Incomes Rise
27:02 - Housing and Capital Stock: Markers of Prosperity
29:40 - Human Capital: Skills, Education, and Social Infrastructure
32:38 - Case Studies: South Korea, Taiwan, Ireland, and Poland
39:10 - Historical Anecdotes: Technology Transfer and Integration
43:38 - India’s Regional Diversity and State-Level Policy
49:19 - Migration, Remittances, and Natural Rebalancing
51:07 - Early Investments in Infrastructure and Human Capital
53:02 - Administrative Capacity and Vicious/Virtuous Cycles
55:27 - Key Challenges: Human Capital, Housing, and R&D

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