to my ex and you got you may have as of right now, like where is it going blow up for somebody. i'm gonna try it. i guess i'm assuming that the, the, the, the, in the able to spell it was a big oh, the way of standing. what awesome, what, what's the zip code the mean for the system? i go out in the middle, that is supposed to lay eyes to avoid. yeah. yes there. can you hear control because i don't in front of them. i know i can, i think i'm going to, the pro of admitted that, particularly what is the

depth of where you live? show trump across publishing. very customer volume. yep . opinion, goods of today to initial, but other than significant that i haven't even the sure. what when i tried in the last 30 years we have been gathering base. yes. and now we have the thing that tipping point with place in the world is changing theater. young nation and we had a poor nation, but we're not just building an economy. we haven't even ending a civilization. so the problem seems to be not the way to atlanta satisfied. and india being a potential source of them, like all kinds of different kinds of things. flourish so over to the b, that's perfectly fine. hello

and welcome. i am on with them kids that come to the show the for the next tough and really been discussing all the things in the park with a very special guest. make them send, you signed the welcome sams, they've sent me all is the prominence economist who has held a number of high profile positions over the years to started out in finance. so you can all makes in the ninety's and was awarded an eisenhower fellowship in 2007 in 2010. the world economic forum named him a young global lead to up till february 2022. essentially, if send you all held the post of the principal economic advisor to india, as finance ministry, who's now serving as a member of the economic advisory council to prime minister number and the remote de, to thank you for coming. explain to me means i am asking as an ordinary citizen of

this country. what does it mean to be economic advisory cons to the, to the parameters, stuff in depth. so uh, but as you can imagine, the idea is to look at the big picture about the economy of the country. so i am not really in the operations part of running the government on a day to day basis, a small number of us. so the only 3 permanent members of our job is to look at say for example, what are the phones to be done? look at the big picture as far as our place in the world. what is happening, the rest of the world and arch replacing it? what's happening to growth automatically, economic stability and so on, and to be able to brief the prime minister and the cabinet about and what are the kinds of things that we shouldn't be doing on the economic front. now that is a very general thing. but in reality, what it means is, 1st of all, remember the prime minister is level of everything and evidence and anything converges. so very often what happens is, what i'm doing may not be what in, in

a textbook sense as economics. and so i may end up looking at sports policy, or i may look at, you know, a rationalization of national, want even something, or, you know, thinking about, uh, you know, how to deal with a geopolitical situation. so the role is in some ways, very, very eclectic. and very often, a lot of times that i spend at least is looking at, for example, suggestions and ideas that come from the ministries. all people who happen to meet the ravenous the. and they give suggestions that ideas not like writing this to me more this personally sitting and researching all of those suggestions or ideas. he gives it to somebody. i'm that somebody. similarly, i may have an idea of some of these, and then you know, i make a presentation say maybe we should look at this or whatever. so i'm part of that cool. you can call it the pink tank which works for the prime minister. and on basically running the economy and it's a very prestigious position to be in. and the katie is also fairly suddenly

a privilege, particularly. i mean it's, it would have been the privilege of anything. yeah. but it is specifically a permanent at this time because we are clearly in one of those stunning points. i mean, in history. yes. so we can see letting anybody living in india can see letting you know we're going to something special. hm. is that a place in the world is changing? after hundreds of years of 1st father and domination, then bad the cannot make policy from our side. you know, finally the last 30 years we have been gathering base. yeah. and now we have aging that tipping point where police in the world is changing. i mean, we had already the was 5th largest economy within the next 24 months. we've become the was told learners to kind of yeah. so to have bins in the cockpit to, in a sense when this happened is very special. this whole, the development of this whole 50 position in the 3rd position hold us 3rd position happened. so basically what is happening is that our economy is now growing very fast and reduced by some margin, the fastest growing

a means that economy in the what the last year we grew at 8.2 percent this year. we should a girl by 7 by the end of the box. but the thing that people forget is the component thing effect. so when india began to reform its economy in 1991, you know how big our economy was just 260000000000. okay, okay. then it took us 16 years to become $1000000000.00 economy. okay, so it's only in 2007, 8. then we became a $1000000000.00 con. okay, 16 years then it took 7 years to be going to the economy. mm hm. then it should have taken us 5 years, but then we had to go over that cetera. so it took another 7 years again. so it's only in 2021, 22 does not too long ago that we became a 3 trillion dollar cutting. okay, after that, just because just for us to get going unfortunately and the economy which we will become this year. okay. and then we take looking more than 2 years to become if i look on them well and then so you see the competent people under estimate of the co

loading process. it is the most powerful force in the world. yes. and so as article and i'm excited to expand and we keep compounding this, the compound interest rates. everybody loves loans in school, but they forget that in the beginning and to the initials been that same slope. hm . but once it reaches a certain base, it begins to get up. mm hm. so even china, me what the same size as the economy in 9090. hm. so how do i get you? how is it become the world's 2nd largest economy? but in fact, by some measure of the world's largest economy, essentially, they grew a few percentage points faster than us, but kept going with would be or yours. and that's how they got to you. so all we have to do now is to keep doing this and compound it and uh, what are the most pressing economic reforms and what needs to be done? how good spend the rest of the day with that? so let me say that there are huge number of things we need to do that. simplify items. yeah, the festival, 1st thing they need to do is to keep our economy growing. so that'd be investment

keeps happening. so i'm from the government side. we need to do physical in for the infrastructure, soft investors to keep investing in that from the corporate side. we need to do ease of doing business so that the, the private sector and for an investor has come in invested in factories and, and back office operations, etc. and, and just so that creates the momentum in the economy created to the jobs and all of that. so that is one part of the, the, the 2nd part of what we need to do is the way that we are doing this. we have to keep the system stable and we can't allow banks to blow up, or, you know, inflation to spike up and so on. so that's a very 2nd important thing we need to code. the important thing we need to do is to make sure that the very port us people in the country get some direct support. because while the board most of the boards and vice because the raising side, there are some people who are locked. so for them you have to do direct benefit strands for, for them to be all of us, you would not have them be build houses, i'll give them some way of getting gas. so things that move, move away from running a word or no, say, jelly,

what am i maybe basically do that. so be the principal. and the last one, you know that the would be used for this under the visa. so, you know, in order to move it as you need to do a whole bunch of things. and so i would argue that one of the single most important things is that the single most important thing you need to do is do the form i traditional as to why. because with some 50000000 cases stuck in a traditional system, we are not being able to enforce contract and pain. this is a major issue for our business sector, and we're not able to give it just as own thing to the average citizen. so i think this is one big video reform we need to do in the next around calvin's going to happen. well, obviously a lot of it will have to be done to the distribution, but the government will also have to participate. and the 2nd important thing we need to do is to finally begin to the form of administration recently since 1991 to now what have you done? we have basically withdrawn the bureau because these bar to do damage. we have not

found to be able to see, we have stood simply a screen that back before $9091.00 they were pretty much allowed to do whatever they wanted. now be able to stream the meaning deformed, but now we need to actually to form them. so that the, the, the civil service can actually become service oriented and actually do the things as opposed to do like fix the roads to municipal services and etc, etc. but that organization has the reorientation has to happen, because even today, the bureau castillo essentially designed to control the population. that is what the colonial either was. but oddly enough, that is also what the socialist d o c. and it's about controlling the population. we need to move west, it was, it was a very from that main set of controls do a mindset of service deliveries. and that is again, one major the found that me to do so there are 2 big reforms, both them in was getting the 1000000 states to do the thing that supposed to do all

this while to be honest with you, i tried to stop it from doing the things it did not or for so i'm not really like running outlines, but now we need to get to the thing that supposed to do. and we have begun to do some of it to be fast. i mean, for example, the sewage in, for such a big note as being done by the state, we are making progress. but you know, this is something we need to focus on. how do you deal with the road blocks? so 1st is the important thing is that you have to understand that we're not just building an economy. we have a building of civilization which has effectively being in decline for essentially. yes. sylvia literally building back the whole thing. so many people asked me. yep. why do i be excited to be interested in, for example, history and culture and these kinds of things and or open design. and so, because if i had only a purely economic view, i wouldn't care about those things. and now the economy is an important part of the building. civilization was not the only thing you have to rebuild the whole. take me, i mean the sense and i would argue that we are trying to trigger me something akin

towards the europeans went through in the $1516.00 century, which is of renaissance and the, the bus. and so when you go to europe and you see you say you go to floods and you'll see those beautiful churches and you go to venice and l all you would, you know, see buildings from elizabeth in england. the idea is that you are seeing the cultural artifacts, but an invite to a lot effects. only one part of what happened to florence was a center for banking contribution to human civilization is actually double entry bookkeeping. oh, simulating venice has a 3 contribution to what the world is actually the stock market. now, because the regenerating all is well for all these commercial activities is maybe a little defensive buildings and those being things. and you know, to get that to me at about the same thing you had gallon deal coming up, was the same scientific to changes. so what happens in the renaissance is that you have massive risk thinking happening at different feet or the same thing. so that's

exactly the same thing that the shakespeare is performing it at the door. you also have francis drake. so come navigating the arts or the english and defeating the tomato. it's a, it's a state of mind of this big and it happens simultaneously on all the. so what indian we are trying to do is to clear the code to the speaking in this country for far too long. we were afraid of the rest of the work even up to be coming to be made to feel that yes and even off the building independent. we continue to have this thing and i had no regard to compete with the rest of the works. all of us because i says, and because i'm in board substitution thing, that goes that mindset me. now we have a different lines that we can go out of this and going to market, and we can compete with the best in the world. we can send something to the moon and you can see that figure that sort of every aspect of life. but that ability and

willingness to go there and can work. you know, a defeat into a victory is something that has clicked and not head in relatively recent times. absolutely, i totally agree with that is if you go back and look at a lot of history, was it's full of wars and battles very well. we almost one and then go defeated me . so this switch is something that has changed. it's and it is not done yet. it's not. i wouldn't say it's yet institutionalized. mm hm. but definitely this changes how it has happened. yes. and you can feel it if you live in india and you can see that, wow, that's amazing. so this, the success of making in the program is, is very evident, is that any failure to suddenly said back that are happening. the most important thing to understand is that if that i'm not saying it's happening, all of a let me and then those successes know their successes happen only when people are meeting the taking the risk of failure. mm hm. so i actually see continuous

bankruptcy and insolvency is that the good thing? i believe that at every point in time, some companies should be going bankrupt. me because it means that other than that the system as a whole is thinking motors. but you don't want to be sort of if a company or for whatever reasons and some type of thing company is benefits problems or there's publics like the private sector lose. our thinking was, let's put them in a warehouse and we will use large amount of extra. busy money to keep it, it's all going good. what we want to do to put in the ends the already in bankrupt itself. it's assets of carrier, me. and we have discovered that doesn't cause cause any great disruption to the system. all that happens, those as good re deployed and here's the new company comes and even the height of good one of our largest daylight, jenny is rid bankrupt and he said, okay, you've been bankrupt banks. so it requires a certain attitude to where to speaking. now it is also important at the same time that we do not see those will bankrupt as a whole bad note even. yeah,

something they look at is they were bankrupt. i think once you've gone through your bankruptcy process and you know, maintained up, you should be allowed to go back and take another screen because that's how the system generates new ideas, new ventures. so, but this is what attitude and this happens not just i am always be talking about in the space or business plan, but this is not the only space this should happen in the science. so it should happen in the arcs, like all kinds of different kinds of things, flourish so over to the that's perfectly fine. how is it important? how much is it important for us to say that okay, best is that getting anything out of growth or does it matter to us well itself as i keep reading, really sort of matters. but i think we shouldn't get to looked of about investor and validation beyond the points, but does it make you angry? the floors netcinity you're trying to manage the best? i mean, that is true. of course it is annoying because at the end of it to do remember that

when china was raising the same fellow said that no, no, the numbers what all the wrong, they were lying this, that bill china begin to be to ignore me. they were the same people who as a no, no single or is not progressing it's autocratic, all kinds of things. so my view on all of this is, in some ways getting criticized and use of right those passage we of the emerging would have to pass through the in a sense because during that passage we are says to discover that actually they will be names of all these people, it doesn't matter, they're just making it up and in fact bid, and what they're really losing me is uh, being able to do it will be the last thing you tell us them to be of joy, a whole and some of those kinds of things that they wanted to do me, i've tried what they've loved to do is do we, you know, the bbc in your hands that and then i move on thing judgments on the syllabus. a little bit of poverty, other than that,

it's up to 5. so the moment we begin to lose a billionaire of odds and our, this thing with effect of the matter is the celebrated. they don't belong to me. after all these people who are all these and yours who come and look to us about the problems in india. are all funded by the rockefeller foundation ford foundation here i own vision and i the sources opens us id over the foundation now, who is, who had all these people they're all been in that it is. yeah. so go to the limit that even though so the problem seems to be not the way to billing, is that right? and it ended up being a burden shows or something like that. i keep telling people, you know, almost because he is not coming here and generating jobs for us. it's going to be the same, a money that need that are below a when you look. yeah. then yes, there should be their taxes. they should follow their rules live, you know, i'm no love lost for the rich. if they're not following the rules,

they have to follow it. but you know, the fact is that really is rather than good is this lot. we should back to them, like we had one 6th of the worst population we haven't like to 16. where's the linux? i love that. how close, how do we do? i've never had a self sufficient about it. and then that means that we have the financial resources to take up please use the word means to be able to stand up for us to invest in the world. and we have demonstrated libby short in the last few years that we are willing to do that. you'll see that in for the policy, you'll see that you not ability to generate out on technologies a, it's a we can see, for example, we have inserted us as into the global supply chains for mobile phones. we are now the 2nd or 3rd largest mobile form manufacturer in the world that's just for 5 years. it will be one given in the big jump. so we are quite capable of being operative hubbard. we should be very careful not to in different up and they have heard of some sort of a floor or topic, kind of the mindset of,

of isolation. we gotta put him in the sense of being able to stand up and take our place in the way at also i think we often, you know, in the as well as an issue in china. still, it effort was emerging economic economies outfit as this classification as well. if it's a it's, it's a bit of a con defending classification and they have had defends, in the, in the 2nd half of the grant. the essentially, in the vein talking about the world and sometimes it's useful as a short time for talking about the little bit more 3 now the so the, whatever you may want to call it. but yes, i mean, zeitfeld the word and the message replace me in dunn's off. why is that for a capital income of china, for example. it's still much lower than that of major invest in country. the factors ensure skews and industrial capacity and even in areas where many areas of technology, china is the cutting edge. so it is not in the marketing. it does very much

a much too many, many, many area. exactly. we are sales are still emerging. be out of course, but i mean not the size of our economy shooting for less because the end of it leave it even after a little growth. we will be in a few we have spend that was total largest economy. we other was largest population already. so when you divide one by the other, and we are also young nation means either young nation, we had a poor mis. um, so we have, we have not the us, but i think it's fair to say that we asked them and emerging country. but i think what is different about this generation is that we have stopped in thinking over some sort of static condition. we have chatted the gifts. one of the future is, you know, ends us from abroad when we come and get some help. and you know, every, when does a and, and i, economists from the us will come and look to this, that india habitats into the mode. how to improve our lives. that we have one prospect. yeah. and how to deal with the criticism from within the country that it

says those are live here, have open interface or listen to it never worked as well. and so i think there is a feedback loop. in fact, we should take criticism even from abroad, but i, i always think criticism much more seriously from people who have a stake in the system directed in the sense that if there is no scheme in the game, nobody can give you advice. and i, i have experience with my said, for example, during the cove and crisis, if anybody in the world has an idea of how he can get her done, it took on me and do a nobel laureates likes to glitch in goodman and all who had all kinds of use, or how indifferent and medic on me, we didn't listen to any of the electives. we ran out economy and it's not something i've been exposed me. even at that time. i went on television that wrote articles and clearly stated, we are not going to go ahead and blow up off of that or monitoring system because of your defense of a light. the some. and the net result of it is that we have, you know, of the most macro economic least stable country right down. let us look at what has

happened, the western economies. i mean, the u. s. for example, it has a really tough situation. the fiscal is out of control, they're trying to balance it with the monetary side, which is a bad way of doing it and it's causing stresses, not just for them. it's amazing spaces for the rest of the what the u. k. economy, the death situation, the european economies, enough of the place, all of which because of ridiculous policies that they were following, which at that time we want them about it's not that at that time we want telling them i was at that time the chair of the framework working group of the g 20 and i should meet that up people and i want them exactly what would happen with the policies and executive that have a person like who was so passionate dental as this amazing clarity has. i'm using the word boss as mr. moody, who is the list? great listener and who also has an amazing passion for our country is not somebody

. but cellphones as you know, yes. and so you have a you have to have done your homework done the math. and so it has made a difference because a person like him is at the heading of the thing that's really, i mean, look of in the old what it tells you to do something and you're doing something else, right? bothered by using him to do something inside and then um it requires a certain level of coverage, you know, to be able to push it in, in, in that way. how do you relax with this kind of a pressure? are all you don't feel the pressure? well, anybody who knows me the, i am uh, always buzzed up. hm. so i can't say i relax me, but i do things which are away from work. i mean, obviously one of the passions is looking at history and things like that. so i go to a lot of lock electrical sites and things of that, and it be a lot of sports, like which uh, for the, relatively recently i used to be uh, you know, doing tie condo and play squash. and yes, yes, i live, do you come from

a family of uh, i know except fighters, but uh, do your son is a mixed martial. lot. uh yes, somebody said my oldest son veteran is an actual uh, in fact, international level, mixed martial. that's fine. and rubio, my younger son also does much of that to lose not he doesn't, hasn't chosen that as a profession yet. and yeah, so yes, i like, i like i do them based sports. when i was in college, for example, i used to do the battery lighting. in fact, i have one of the in this 1st paddic lighting licenses. so i was part of the 1st batch of florida who got their pattern waiting license. so i can, i can seem to have had a, a, have pioneered that sport. oh, wonderful ios also used to be a no no longer have the fitness for a professional level. got a whitewater kayaking and canoeing person. so i had an instructor grade certification and kayaking and canoeing. so going down rough, rough rivers and things. so you can imagine my g really doing is i like, uh,

a little bit of, uh, uh, this is what am i doing? yeah. if, if you can get badly hurt in doing whatever you are doing, um i lose interest in the matter. quite right. uh so, yeah, so i, unfortunately my, i am now uh at least point in my life with my joints going to pick the phone thing anymore. so i have to do most did things like go to the gym. what do you do for you to go to the gym and i still play some sports. i occasionally play squash and so, but as i said, it is the mind is willing, but the body is actually the joints of increasing. lisa leslie, thank you. thank is in tucson is the thing you guys are talking to you and thank you for watching. join me next, speak for another intimate conversation with another team guest. and let's talk about the

the russian states never is as tight as i'm one of the most sense community best in most all sense and up in the system must be the one else holes. question about this, even though we will then in the european union, the kremlin media mission, the state on the russians to day and split the archie smith. net keeping our video agency roughly all the band on youtube, the fitness center. for what question did you say from stephen twist, which is the

1918 the countries of the west won the final victory over the ottoman empire. the sultan's government capitulated to the inside and signed the humiliating armesis, upload drugs. great britain and france and a delay wanted not only to destroy the ottoman empire, but also to divide the prime orderly target lands among themselves. in 1919, their armies began to land on turkish territory. but the west decided to choose greeks as the main striking force. seeking to make others realize this aggressive plan. for an intervention, provo massey indignation among the turkish people. the national liberation struggle

was led by the experienced general mustafah come all as that are in order to bear down the enemy, a bank on the mobilization of the nation. and the alliance with russia, which acted as a united front, with turkish patriots. at the end of august 1922, the 3rd army won a decisive victory over the invaders in the battle of doom living art. and within a month liberated all asia minor from them, the impressive success of the circus army force the west to make concessions. in 1923, the loss on these treaty was signed turkey. one of the 1st countries in asia managed to defeat the colonial empires and defend its independence. becoming an example for millions of via press on the planet. the

leader of the world's largest country shows a cup of tea with either of the most popular country rather than pleasure to hold no red remote in last discussing the thing to russia, india. and while the leader of the, well it's most pop, could us country has especially flown in it to meet the leader of the world's largest country on, on surprise, me between these 2 joints that reason for not to care discuss, we are here from our special coverage studio high in the russian sky, trying to make a little sense of what might be said this tell us the russian defense and the 2 did you put in place of the funding here there.