India has come a long way since its independence in 1947. It has reduced poverty dramatically, become the world’s fifth-largest economy, successfully chaired the G20 in 2023, and become the world’s most populous nation, leaving India a demographic dividend that must be realized.
However, India still faces numerous challenges going forward. Within this context, the Institute for International Economic Policy (IIEP) hosted its fourth GW India Conference on India’s Economic Development and U.S.-India Economic Relations. This year’s conference focused on “Making India an Advanced Economy by 2047: What Will It Take?”
The conference brought together prominent economists, policymakers, and experts to discuss India’s strategic pathways and challenges toward becoming an advanced economy. The conference was very well received, with some describing it as the best conference on India’s economy in the U.S. A keynote address by V. Anantha Nageswaran, Chief Economic Advisor, GOI, on “India’s Path to an Advanced Economy: Growth and Structural Transformation” kicked off the conference, immediately followed by an address by Indermit Gill, Chief Economist, The World Bank, on “How Can India Avoid the Middle-Income Trap?” During the lunch keynote session, Dr. Vivek Lall, Chief Executive, General Atomics Global Corporation, gave an address on “U.S.-India Technology and Defense Cooperation.”
The conference concluded with remarks by Raghuram Rajan, 23rd Governor of the Reserve Bank of India, and Junaid Kamal Ahmad, Executive Vice President of MIGA. In addition to the keynote remarks, there were five panels and 15 distinguished speakers from around the world featured. Speakers addressed topics ranging from macro issues to trade policy, from inequality and social inclusion to climate change. This conference was co-sponsored by the Institute for International Economic Policy, the Institute for International Science and Technology Policy, the GW Center for International Business Education and Research, and the Sigur Center for Asian Studies. This is a recurring conference held every year in the spring to coincide with the meetings of the IMF and the World Bank. Future gatherings will include social issues as well as India’s engagement with other parts of the world, including the African continent.