Forget catch-up, think futuristic, go big

"Catch-up" and "limited resources" are constants for our economy post-independence

Catching-up” is difficult. Matt Andrews (Harvard) writes “hope of widespread and dramatic catch-up is not realistic”. Top countries by GDP/per-capita GDP continually dominate the global economy. Despite development, others become relatively “poorer”. Similarly, limited resources mean we progress but don’t “break out”. Despite notable successes —vibrant industries, entrepreneurs, Green Revolution, ISRO, IT — there remains a gulf vis-à-vis the developed world.

Covid-19 has dramatically altered the scenario. The pillars of the global economy — multilateral trade, offshoring, long supply chains — are under question. Technological disruption has accelerated — Satya Nadella commented that two years of transformation happened in two