Why India needs to counter China-Russia-Iran triaxis: Harvard professor’s big prediction

Larry Summers, the Charles W Eliot University professor and president emeritus at Harvard University in an interview with TOI painted a bright picture for the Indian economy but with a few challenges.

Geopolitics is one of the major hurdles. “As there is an increasing axis between China, Russia and Iran, India will have to maneuver with great skill as its cooperates and seeks a more cooperative relationship with the US,” said the Harrvard professor.

In addition to this, India will have to work very hard in the age of AI to maintain its very strong presence in IT and all things digital, he said.


“I also hope that India can continue the process where so much progress has been made of trying outwards and towards the world. The truth is that for most of the last 70 years the greatest barriers to India benefiting from globalization have been those put in place by the Indian govt and there is progress there, but there is still more room to grow in terms of reducing barriers.”

Meanwhile, he believes that India is poised to be the fastest growing in the coming years, with the Modi govt laying the foundation.

The former US treasury secretary said, “I am optimistic about India’s prospects to increase its GDP six-fold by the century of Independence and be the most rapidly growing economy in the world over the next five years, the next decade and the next generation among major economies.”

Prime Minister (Narendra) Modi has been spectacularly successful as an energizer, putting in place infrastructure, establishing new initiatives in physical infrastructure and in intangible spheres involving payments or individual identities, he said in the interview.

“I hope that in the years ahead, reform to assure strong and diverse incentives for initiatives allowing market forces to play can run strongly in the way that providing energy to broad public efforts has so far. It is in that way that the promise of the Indian economy best be realized,” said Professor Summers.