a the the, with the end of world war one, the move in for an indian independence from the british empire flared up with renewed vigor. the british responded to the growth of the national liberation movement with arrest and brutal violence. repression caused active resistance.

in march 1919 at the call of mahatma gandhi, a peaceful strike began in the country. but the british responded with a new round of violence and far bade the indians to gather more than 4 people on the day of the sea bass, that he festivals a huge crowd of civilians gathered in the center of the city of i'm the star in northern india, seeing these as outright defiance. general reginald dyer gave the order to open fire on the, on, on the boat. the barbaric execution claimed the lives of at least 379 indians, including 40 children, the youngest of who was 6 weeks old. the indian national congress considered the official figures to be underestimated and announced the death of more than $1000.00 civilians. the well known greatest newspaper, the morning post called dyer,

the man who saved india, gave him a sword and 26000 pounds sterling as a token of gratitude for the massacre. the amorous dar massacre went down in history as one of the most brutal crimes of the british invaders, and only escalated the affair. struggle of the indians for liberation from the colonial yoke. the in the last 30 years, the i've been gathering base. yes. and now if you have anything that tipping point with place in the world is changing theater, young nation, and we had a poor nation with being not just building an economy, we have the building of civilization. so the problem seems to be not the way to midland satisfied, and india being a potential source of the like all kinds of different kinds of things, flourish all over to you. that's perfectly fine. hello

and welcome. i am one of them kids that come to the show the for the next hoffman are we will be discussing all the things in the product with a very special guest make them send you sonya, welcome. since they've sent me all is the prominence economist who has held a number of high profile positions over the years. she started dollars in finance. so ican all makes in the ninety's and was awarded an eisenhower fellowship in 2007 in 2010. the well, the comic forum named him a young global lead to opposite of february 2022 cents. you have sent me 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? consider that, but i'm not 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'm not really in the operations part of running the government on a day to day basis. a small number of us. so they only 3 permanent members of our job is to look at say for example, what are the forms 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 placing 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. so i may end up looking at sports policy, or i may look at, you know, a rationalization of national monument, something, or, you know, thinking about, uh, you know, how to deal with a jew political, the situation. so the role is in some ways very, very effective. and very often, a lot of times that i spend at least is looking at, for example, suggestions of ideas that come from the ministries. all people who happen to meet the parameters the and they give suggestions that ideas not like driving us to 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 truth is, the katie is also fairly suddenly a privilege, particularly. i mean it's, it would have been the privilege of any time. yeah. but it is specifically a permanent at this time because we are clearly in one of those stunning blaine. so in history, yes. so you 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 policies from our sites. you know, finally the last 30 years we have been gathering base. yeah. and now we have the thing that tipping point with place in the world is changing. i mean, we had already the was 5th largest economy within the next 24 months. we've become the world's toddlers to kind of yeah. so to have bins in the cockpit to, in a sense when this happened is very special, this solar development, this whole 5th position and 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 was the last year we grew at 8.2 percent this year. we should a girl by 7 percent 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 260 bit. 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. and 16 years then it took 7 years to become a little 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. and it is not too long ago that we became a 3 trillion dollar cutting. okay. after that, it took a just for us to get going unfortunately, and the economy retrieve it, it becomes this. yeah. okay. and then me to take a look a more than 2 years to become if i look on it now and then. so you see the couple

people underestimate the co loading process is the most powerful force in the work . yes. and so as our economy excites big expands and we keep compounding this, the compound interest rates. everybody loves loans in school, but they forget that in the beginning and do the initial benefits, same slope. but once it reaches a certain base, it begins to get up. hm. so even china, me what the same size as the economy in 99. mm hm. so how do i get you by how is it become the world's 2nd largest economy? but in fact, based on measure of the world's largest economy, essentially the, grew a few percentage points faster than us, but kept going with would be audio use. that's how they got here. 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 the heck to spend the rest of the day with that. so let me say that there are huge number of things we need to simplify them. yeah, the festival,

1st thing they need to do is to keep our economy growing so that your investment keeps happening. so i'm from the government side, we need to physically and 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 factory use of and back office operations, etc in india. so that creates the momentum in the economy created to the jobs and all of that. so that is one part of what the, the, the 2nd part of what me to do is that, why do we are doing this? we have to keep the system stable. we've gone to our 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 do the toad. the important thing we need to do is to make sure that the very porters 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 will. so for them you have to do direct benefits, transfer for them to be all of us. you will not have them be middle houses. i'll give them some way of getting gas, so it means that move, move away from running

a word or no, say, jelly, what am i maybe basically do that. so these are the 2 principals. and the last one, you know, that the word be used for this unto the visa. so you know, in order to do this, you need to do a whole bunch of things. 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 on your dishes as to why. because with some 50000000 cases stuck in a traditional system, we are not being able to enforce contract on 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 area of the phone we need to do in the next to the calvin is going to happen. right? obviously a lot of it will have to be done to the distribution, but the government will also have the box of it. and the 2nd important thing we need to do is to find them the beginning of the form of administration. usually

since 1991 the law, what have you done? we have basically withdrawn the butyl cause these bar to do damage. we have not found a bit of proceed. we have stood simply a stream that back before 9091 they are pretty much allowed to do whatever they wanted. now be able to stream them but reading the following them. but now we need to actually the following 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 orientation has the reorientation has to happen because even today, the bureau castillo essentially designed to control the population. that is what the colonial eda was. but oddly enough, that is also what the socialist d o. c. and it's about controlling the population. we need to move us, that was, that was away from that mindset of control and do a mindset of service delivery. and that is again, one major phone that me to do. so there are 2 big reforms, both them in was getting the knitting states to do the things that's supposed to do

all this while to be honest with you, i tried to stop it from doing the things it did not offer. so i'm not really like running outlines, but now we need to get a glue. the thing that's 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 beam 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 the only economical view, i wouldn't care about those things. now the economy is an important part of the building civilization was not the only thing you have to rebuild the whole team.

and in the sense, i would argue that we are trying to trigger something akin towards the europeans, went through in the $1516.00 century, which is a renaissance, reimburse me. so when you go to europe and you see you say you go to products and you'll see those beautiful churches and you go to venice and l all you would, you know, see buildings from elizabeth and england. the idea is that you are seeing the cultural artifacts, but the price of a lot effects only $1.00 part of what happened. flooding was a center for banking. contribution to human civilization is actually double entry bookkeeping. oh, simulating venice and 3 contribution to the world is actually the stock market. now, because the regenerating all is well for all these commercial activities is maybe the defense, the buildings and those being things. and you know, to get that to me at about the same thing. you had gallery all coming up was the same scientific to the 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 roughly the same thing that the shakespeare is performing it at the door. you also have francis drake. so come navigating the or the english and defeating the tomato. it's a, it's a state of mind of the speak and it happens simultaneously on all things. so what indian we are trying to do is to clear the college of the speaking in this country for far too long, we would have freedom of the rest of the work, even after becoming to be made to feel that yes and even after becoming independent, we continue to have this, can you not had no regard to compete with the rest of the work? so let us close that says into some import substitution thing that goes on 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 to 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, you can see that around. that's amazing. so this, the success of making in the program is, is very evident, but is there any failure to suddenly said back that are happening? the most important thing to understand is that if that i'm not saying that is happening, all the things that mean, then the success of their successes happen only when people are meeting the taking

the risk of failure. so i actually see continuing bankruptcy and insolvency. it's a good thing, i believe that at every point in time, some companies should be going bankrupt me because it means that other, that the system as a whole is thinking motors. but you don't want to be sort of difficult. but even for whatever reason, and from day per day of the company's benefits problems or there's publics like the private sector used, our thinking was let's put them in a warehouse and we will use large amount of taxpayers money to keep it's all going . today. what we wanna do to put in the anxiety and bankrupt itself, it's assets of data. and we have discovered that doesn't cause cause any great disruption to the system. all that happens, those assets, good, read the play, then here's the new company comes and even the height of good one of our largest daylight, jenny is red, bankrupt and reset ok. you went bankrupt banks, so it requires a certain attribute to where to speaking. now, it is also important at the same time that we do not see those will bank up as

a whole bad note, even. yeah, something that will give us the way back up. i think once you've gone through your bankruptcy process and you know, mean teamed 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 of business and, but this is not the only space this should happen in the science. so it should happen in the arts. 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? does it matter to us? well, it's sometimes i keep reading the sort of methods, but i think we shouldn't get too worked of about invest invalidation beyond the points. but does it make you angry, the floors, the civically tried to manage the best?

i mean, that is true. of course, if there's annoying, because at the end of it to do, remember that when china was rising, the same fellow said that no, no, the numbers with all the wrong, they were lying. this, that they will, 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 activity be will be names of all these people, it doesn't matter, they are just making it up and in fact bid, and what they're really losing me is, uh, being able to, you know, bid licensing you, they'll ask them to be of joy a whole and some of those kinds of things that they wanted to do me, i've probably what they've loved to do is do we, you know, the bbc in your hands that and then i want to move on thing judgments on the

syllabus celebrate of poverty, other than that, it's up to 5. so the moment we begin to lose a billionaire about our, this thing, but the fact of the matter is the celebrated. they don't belong to me. after all these people who uh, leave and yours who come in look to us and about the problems in india are all funded by it. i'll go for the foundation ford foundation here i own vision and i the sources opens this id or the foundation. now who is, who had all these people, they're all been in that it was. yeah, so go to the limit that even though so the problem seems to be non white villain and satisfied and india being a potential source of them. right. and 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 mock. 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 that. but, you know, the fact is that really is rather than good is a, this larger is your back to them. like we had one 6th of the worst population. we haven't liked the 16 of the words been and i love that. how close, how do we do? i've never heard of 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 louie 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, 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 i was just full 5 years ago. we weren't even in the picture. so we are quite capable of being argumentative and we should be very careful not to in different up. and then put us

on sort of a floor or topic, kind of the mindset of, uh, of isolation. we gotta move in, in the sense of being able to stand up and take our place on the what. also, i think we often, you know, in the, as well as russia and china still referred was emerging economic economies outfit as this classification this. 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 world in the midst of the place. mm. uh, in duns off. why is that full capital income of china, for example, is still much lower than that of major western country. the effective, insure, 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. does very much too much

too many, many, many area. exactly. we are cells 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 weeks time 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 miss. 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 of thinking over some sort of static condition. mm. do you have a chat at the gus? one of the future is you don't ins us from abroad when you come in. uh us some help and you know, uh every, when does it, uh and, and i, economists from the us will come and look to the us that india habitats into the mode. how to improve our lives. that we have one prospect. yeah. and how do you

deal with the criticism from within the country that is fast. those are live here, have open and be sure to listen to it never worked as well. and so i think there is a feedback loop. in fact, we should stick to this. i mean for the broad, but i, i always think criticism much more seriously from people who have a stake in the system directly in the sense that if there is no scheme in the game, nobody can give you advice. and that i have experience with myself, for example, during the corporate crisis. if anybody in the world has an idea on how in the us are done, it took on and the audience likes to glitz and goodman and all who had all kinds of use of 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 board. then blow up off of that or monitoring system because of your defense of a lady at some end. 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 us for example, it has a really tough situation. the fiscal is out of control. is that trying to balance that with the monitoring side, which is a bad way of doing it and it's causing stresses, not just for them. it's most expensive for the rest of the what the u. k. economy, the dumpsters, ration the european economies enough of the place, all of which, because of ridiculous policies that they have a following. which at that time we want them about. it's not that at that time we weren't doing them. i was at that and the chair of the frame, the working group of the g 20. and i should meet that up people and i want them exactly what would happen with their policies and executive that have a person like who was so passionate, dental has amazing clarity. has i'm using the word boss as mr. moody, who is the listen good listening and who also has an amazing passion for

a country is not somebody to cellphones, as you know. yes. and so you have, you have to have done your homework, done the mats. and so it has made a difference because the person like him is at the heading of the thing. that's the literally, i mean, look of in the whole 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 buzz up. mm hm. so i can't say i relax me, but i do things which are away from what 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, do. relatively recently. i used to be uh, you know,

doing di condo and play squash. and yes, yes, i live you, you come from a family of uh, lots of fighters, but uh, do your son is a mixed martial. lot of yes to my so my list on the other one is uh and national uh, in fact, international level mixed martial. s find rubio. my younger son also does much of that. so lose not. he doesn't, hasn't chosen that as a profession yet. 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 induced fuss paddic lighting licenses. so that was part of the 1st batch of florida who got the pattern waiting license. i can, i can seem to have bad, have pioneered that sport. oh, wonderful ios also used to be a no, no, no longer have the fitness for that professional level. got whitewater, kayaking and canoeing for since i had an instructor grade certification and packing and canoeing, so going down rough,

rough rivers and things. so you can imagine my general after doing is uh i like uh, a little bit of, uh, uh this is what am i doing? yeah. if, if you kind of 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 funding anymore. so i have to do most paid things like go to the gym. what do you do for you to go to the gym and i still play some sports. i have disney play squash. and so, but as i said, it is the main does willing but the body you achieve the joints of increasing these the less really thank you. thank us and do tanya has that thing? have you guys are talking to you? and thank you for watching. join me next week for another intimate conversation with another team guest. and let's talk about the,

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a lot. how can it be that um, to ship to the middle east from a country whose top officials constantly complain about shortages of munitions and military equipments through a little bit of boss and milk, or even maybe a little in your system. and below came along the nominal facility, or some of those other staff we, i'm about to the easiest you to not know. so let us know we and we'll have an easy somebody remember bubble sold. well, nice to have him come down. now, why are weapons from ukraine spreading over the world to, to this country and to a major arms hub, will continue to bolster ukraine's and forces by rushing them occasionally is that they need to defend their country. the everyone knows very well that we don't sell but known as pineapples or any kind of children's toys. we sell women. yes, we're also known in the world as homes dealers that we must not be ashamed of that

the, of the american with a long history of felonies in the us who also tried to recruit mercenaries for ukraine. we take a closer look at the suspect and the 2nd, assess a nation attempt to on donald trump is about good versus evil. you drains of the rest of the world, caring, and john, and generous on self concept. local law enforcement isn't mincing words, questioning how they've gotten and managed to get close to the former president and saying the f b. i needs to take the possibility of a larger conspiracies seriously. president for president i states as golfing.