India is unable to create millions of low-skilled jobs in manufacturing and industry, while employment is getting concentrated in the highly skilled IT and financial services and in low-productivity agriculture. Speaking at the Rising India event organised by a media group last week in Delhi, well known American economist Paul Krugman, who won the Nobel Prize in 2008 for his work on international trade theory, said India has achieved rapid pace of (economic) transformation in the last 30 years, but it still suffers from high degree of economic inequality, visible poverty and poor infrastructure. Talking about challenges facing India, […]
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