Spring Break
Lecture discusses India's industrialization
Lillianna Baczeski
Issue date: 11/12/04 Section: News
"The basic problem is that 60 percent of the population is still in agriculture," Panagariya said. "That is to say that 60 percent of the population still make their living by farming."
Panagariya also said there has been a slight decline in the agricultural share of the economy while industrialization has remained static. The increase was present in the services share, although this grouping does not include modern services, according to Panagariya. For the country's growth rates to grow rapidly, Panagariya stressed the industrialization share must increase.
Panagariya ended his lecture by briefly addressing outsourcing. He said an estimated 250,000 jobs were outsourced from the United States to India over the past four years. Taking this number and placing it next to the 30 million jobs that the United States creates and destroys annually, Panagariya said he felt that the "situation" of outsourcing was not really a situation at all.
"To think that one job there is one less job here is the wrong way to look at outsourcing," Panagariya said. "The number of jobs in America is not fixed, it is constantly increasing."
Panagariya also emphasized was the loss of American jobs to machines.
"I thought the talk was very general, which I guess was okay in light of this audience," said Malia Bajpai, a graduate student focusing on political science. "I think it was interesting how [Panagariya] discredited the American media and the face they put on the situation of outsourcing. I'm sure he had a different view because he is Indian, but the numbers put forth were very debatable."
The lecture was the first of a series co-sponsored by the Office of International Affairs and the newly formed India studies program headed by political science professor Betty Hanson.
Panagariya also said there has been a slight decline in the agricultural share of the economy while industrialization has remained static. The increase was present in the services share, although this grouping does not include modern services, according to Panagariya. For the country's growth rates to grow rapidly, Panagariya stressed the industrialization share must increase.
Panagariya ended his lecture by briefly addressing outsourcing. He said an estimated 250,000 jobs were outsourced from the United States to India over the past four years. Taking this number and placing it next to the 30 million jobs that the United States creates and destroys annually, Panagariya said he felt that the "situation" of outsourcing was not really a situation at all.
"To think that one job there is one less job here is the wrong way to look at outsourcing," Panagariya said. "The number of jobs in America is not fixed, it is constantly increasing."
Panagariya also emphasized was the loss of American jobs to machines.
"I thought the talk was very general, which I guess was okay in light of this audience," said Malia Bajpai, a graduate student focusing on political science. "I think it was interesting how [Panagariya] discredited the American media and the face they put on the situation of outsourcing. I'm sure he had a different view because he is Indian, but the numbers put forth were very debatable."
The lecture was the first of a series co-sponsored by the Office of International Affairs and the newly formed India studies program headed by political science professor Betty Hanson.