Dr Aurodeep Nandi of Nomura warns that India's growth model is more fragile than the headline GDP number suggests, and that without stronger domestic demand and a serious R&D push, the middle income trap looms large.
India's GDP growth rate rarely makes headlines for the wrong reasons. At 6–7.5%, it is the envy of most major economies. But at the ET Alpha Wealth Summit's panel on India's growth story, Nomura India Economist Dr Aurodeep Nandi offered a more uncomfortable read, one that cuts beneath the headline and asks whether the quality of India's growth is actually building lasting prosperity.
