Amit's Blog

India’s Path to Upper-Middle-Income Status by 2050: Challenges and Opportunities   India, with its 1.4 billion people and rapidly growing economy, stands at a critical juncture in its development trajectory. Eighty years ago, most countries that were poor remained so, with rare exceptions like oil-rich nations aligned with the United States or those benefiting from US-led security and economic support, such as Japan, South Korea, and Singapore. China’s remarkable rise since the 1980s offers a partial exception, though it has not yet fully transitioned to high-income status. India, lacking vast natural resources or a geopolitical patron, faces a unique challenge: can it achieve upper-middle-income country (UMIC) status, defined by the World Bank as a GNI per capita between $4,516 and $14,005 (2024 thresholds), within the next 25 years? This essay explores India’s prospects, drawing on historical precedents, current economic trends, and expert insights. It examines whether India ...

The Revolutionary Impact of Household Appliances: India, China, ASEAN, and Africa The rise of refrigerators, air conditioners (ACs), and washing machines has profoundly reshaped lives across India, China, ASEAN, and Africa, evolving from symbols of affluence to cornerstones of modern living. Spanning four distinct eras—1960–1990, 1990–2005, 2005–2020, and post-2020—these appliances have driven social and economic progress, empowering individuals, transforming households, and fueling industries. This essay delves into their impact, highlighting inflection points for mass consumption, regional disparities, and the unique trajectories of countries like Singapore, which led adoption, and others like China, which rapidly scaled access. Backed by data, statistics, and insights from observers, it explores how these technologies enhanced health, productivity, and gender equity while posing environmental challenges. By examining their influence at individual, societal, and workplace levels, thi...

Is the quantum FDI very important? Is it the cause or the effect of economic development? Intuitively we know that it is important. The question is how important. The decision to invest in a particular country depends on several factors, including political situations, economic conditions, infrastructure, business growth, etc. Governments also play a significant role in attracting  foreign investors  by offering subsidies or tax concessions. FDI allows the transfer of technology—particularly in the form of new varieties of capital inputs—that cannot be achieved through financial investments or trade in goods and services. FDI can also promote competition in the domestic input market. Recipients of FDI often gain employee training while operating the new businesses, which contributes to human capital development in the host country. Profits generated by FDI contribute to corporate tax revenues in the host country However, if we look at two comparable economies (in terms...