We live in the age of artificial intelligence (AI) that has provided us with immense processing power, storage capacity, and access to information. The exponential development of technology gave us the spinning wheel in the first, electricity in the second, and computers in the third industrial revolution. In 2016, the World Economic Forum called AI “the fourth industrial revolution” that has radically transformed the way we live, work, and connect with each other. However, it has also given us regulatory challenges such as data ownership and labor protection.
India in Transition
After the first metro project in Kolkata, it took two decades for India to plan and execute its second metro rail project in Delhi in 2002. But afterwards, there was a surge in metro rail projects across Indian cities. In the past decade, more than thirteen cities in India have sanctioned for metro rail systems and many more states are still vying to seek clearance from the central government for metro rail projects.
Like a recurring rash, a little war of words has broken out in the media and Twitterverse about the extent of inequality in India and whether it is growing. The catalyst this time is the publication of James Crabtree’s book The Billionaire Raj. The same thing happened last year when Luke Chancel and Thomas Piketty published their paper “Indian Income Inequality, 1922-2015: From British Raj to Billionaire Raj?” Both are solid contributions that agree on one thing—economic inequality in India is very high and increasing because of the rise of a super-wealthy class.
During his June 2018 state visit to India, President Danny Faure of Seychelles was given the red-carpet treatment. He took home major gains in defense for the tiny Indian Ocean nation: a second Dornier aircraft, a $100 million line of credit for maritime security cooperation, and a white shipping information-sharing agreement. However, Seychelles did not reverse its rejection of a military base sought by India despite some careful diplomatic couching about the two countries’ shared interests.
The Wuhan Summit between India and China has to be seen in the backdrop of wider developments in the Indo-Pacific region. It is important that New Delhi and Beijing are able to manage their differences, as both of them need to concentrate on their economic development.
Nearly fifteen years ago, the former head of India’s Central Water Commission warned that “hydro-politics is threatening the very fabric of federalism” in the world’s second most populous country. Virtually all the subcontinent’s major rivers, including the Indus, the Ganges, and the Brahmaputra, are the subject of some level of contention. But while these international transboundary waterways receive most of the attention, it is India’s internal water wars that may well be most significant for its future.
During his speech to the global business elite gathered at the 2018 World Economic Forum, Davos, Indian Prime Minister Narendra Modi extolled globalization and criticized trade protectionism.
Indian farmers realize extremely low revenues. Revenues can be low either because farmers are unproductive and/or because they receive low prices for their output. While productivity relates mostly with technical aspects of farming, price realization depends on the state of the agricultural economy and can potentially be addressed by economic policy. In this article, I will discuss two dimensions of prices—wedges and dispersion—and shed light on some common misconceptions.
Are Intermediaries Bad?
Scholarly and popular accounts of institutions in developing countries have largely been dominated by twin narratives of institutional capture and decay. The Indian Election Commission (EC), however, acts with integrity and has capably expanded its power. What explains the EC’s surprising success?
The study of India in the United States was relatively modest prior to India’s independence. In 1939, the great Sanskritist, W. Norman Brown, who established the first academic department of South Asian Studies in the US reflected, “It takes no gift of prophesy to predict that [during the second half of the twentieth century] the world will include a vigorous India, possibly politically free, conceivably a dominant power in the Orient, and certainly intellectually vital and productive.