T N Ninan: 'Developed' by 2022?

Parts of the economy are indeed developed but overall India has no hope of qualifying in the next five years

T N Ninan 

T N Ninan Can India become a developed country by 2022? That is the prospect the prime minister held out at Kedarnath on Friday. The question begs a definition of what we might mean by “developed”. One way to answer that is to look at the structure of the economy, its financial development, and its manufacturing prowess. For instance, the developed economies usually have a high component of gross domestic product (GDP) comprising the industrial and service sectors. India does have a predominant service sector, but much of it is not in what might be termed the “modern” segment ...

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First Published: Fri, October 20 2017. 19:23 IST