Written by Srinath Sridharan and Shailesh Haribhakti

India’s growth story so far should not be mistaken for a taken-for-granted future — a young nation, a swelling workforce, a surging economy. And perhaps, in the spirit of Vedantic lessons, India’s policymaking must now rediscover the discipline of śravaṇam, mananam, and nididhyāsanam — to listen, to reflect, and to live its own wisdom.

The first chapter of India’s global rise during the liberalisation era began with IT-enabled services and business process outsourcing. It matured into knowledge process outsourcing, and today, into Global Capability Centres. Yet, beneath this perceived success lies an uncomfortable truth: Their economic value is derived more from labour cost and currency arbitrage than from intellectual property contr

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