Q/ You had over a 50-year association with Manmohan Singh. What kind of relationship did you share, and how did you influence each other?
A/ For me, he was both an inspiration and a mentor; so, obviously, I cannot say how I influenced him! The other way around is easier. He was professionally a role model. He had done exactly what I wanted to do—worked outside government as an economist and then joined government. I was also very impressed by his personal kindness and gentleness and his willingness, indeed keenness, to hear other people express their views. You could go to him and say, “I don’t entirely agree with what you said,” and he would listen and explain his position. He was a master in persuasion. Seeing him in operation taught me a lot on how to push ideas in an environment where they were not immediately attractive.
Q/ A significant percentage of the country’s population was born after 1991. Tell us about decisions from that era that shape India even today?
A/ You have touched on a very important point. Two-thirds of the country was born after 1991, and even the young adults among them are not aware of the importance of the changes in 1991, which are responsible for the economic transformation we have seen. They have no idea of how inefficient the control-oriented system was before 1991. They are not aware that by closing ourselves from foreign trade and protecting domestic manufacturers, we kept inflicting auto-mobiles on the population which were 30 years out of date, and even then, it took many years to get a new car! Today's young people have much more choice and they have producers chasing after them.
This story is from the January 12, 2025 edition of THE WEEK India.
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This story is from the January 12, 2025 edition of THE WEEK India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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