|
|
Need revolution in education, skill building: Raghuram Rajan
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 23 Mar, 2018
Former RBI Governor Raghuram Rajan on Friday batted for the country to
have a revolution in education and skill building and bringing talent
back from abroad.
Currently teaching finance at University of
Chicago's Booth School of Business, Rajan said: "We are not as global as
we should be".
"Too many of our people are too poorly educated
or skilled to compete in a globalised tech-enabled economy. If we don't
do that we will end up with a two-tier economy of a few 'haves' and a
vast population of 'have-nots', which is neither socially stable nor
desirable," said Rajan during a keynote address outlining his vision for
India at the #FUTURE Global Digital Summit organiSed by the Kerala
government here.
Accelerating the pace of growth and technology adoption was what he emphasised on during his half-hour talk.
"Even
as we improve infrastructure and logistics through the massive
investments that we envisage, we have to recognise that the export-led
growth path is closing quickly, partly as a result of political
movements in the West to build tariff walls, and partly because
technology is allowing them to bring back the jobs into their country
through customised machine-based programmes utilising less labour," he
said.
He also warned that the global economic recovery is likely
to be hit if the trade war intensifies between the US and China and
wished better sense prevails.
According to him, politics is one of the reasons that change does not happen fast enough.
"Any
change hurts the incumbents and those incumbents strike back. Today the
mood against trade is often really a disguised move against technology.
You can't proceed against technology, but you can against trade.
Ultimately the cause is the loss of jobs."
"India needs to join
the global supply chains sooner rather than later, so we have positions
there that we can defend," he said, adding that "we need to keep a
focused tariff regime to be able to do so".
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|