India’s economic resurgence has been the subject of many extravagant predictions and hopes. The road India takes will matter not only for the lives of its billion-plus people but also for the course of global economics and politics.

Drawing on a new book, India’s Long Road: The Search for Prosperity, economist Vijay Joshi examined the foundations of the country’s mixed economic performance and discussed how relations between the state, the market, and the private sector must be comprehensively realigned course for India to achieve widely shared prosperity. According to noted economist Jagdish Bhagwati, “At a time when the Indian scene is flooded with many books, Vijay Joshi’s latest contribution towers above all others.” Subir Gokarn of the International Monetary Fund offered comments, and Carnegie’s Milan Vaishnav moderated.

Vijay Joshi

Vijay Joshi is emeritus fellow of Merton College, Oxford. He has held positions with India’s Ministry of Finance, the Reserve Bank of India, J.P. Morgan India Investment Trust, and the World Bank.

Subir Gokarn

Subir Gokarn is the executive director for Bangladesh, Bhutan, India, and Sri Lanka on the board of the International Monetary Fund. He was previously senior fellow and director of research at the Brookings Institution India Center.

Milan Vaishnav

Milan Vaishnav is a senior fellow at the Carnegie Endowment for International Peace and author of the recent book When Crime Pays: Money and Muscle in Indian Politics.