Raghuram Rajan on why democracy is ‘biggest advantage’ for India’s economy

In a conversation with Newslaundry CEO Abhinandan Sekhri, former RBI governor Raghuram Rajan spoke about the role of artificial intelligence in economic development, competition in the news industry, and India’s response to environmental threats, among other issues.

In his keynote address at the ‘Ideas for India’ conference, organised by Bridge India in London last month, Rajan also examined India’s service sector and the significance of democracy for future economic growth.

“Our biggest advantage is our democracy. Would you trust 5G that is sold to you from an authoritarian country?” said the former RBI governor, reiterating the importance of decentralisation and investment in human capital development. “India has a reputation in services. Let’s build on it.”

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Text by Sneha Alexander.