Paul Krugman, the American economist who won a Nobel Prize in 2008, is bullish on India but has warned that it could end up with huge mass unemployment if it does not grow its manufacturing sector.
India can also ride the next wave of globalisation on its demographic dividend, he said. “India’s growth story is quite unique. Services propelling growth to an extent that hasn’t been seen anywhere else in the world and the possibilities of service globalisation has only just begun. Globalisation of service trade has a huge potential. That’s one reason to be especially hopeful of India’s progress. It has the first-mover’s advantage here,” he said.
Krugman said India’s growth story was incredibl ..
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