HT interview: ‘India’s economic miracle made it key in global reforms,’ says Larry summers

Lawrence Summers forecasts India's economy could grow sixfold by 2047, emphasizing its role in global development and climate finance reform.

Lawrence Summers, the Charles W. Eliot University Professor and President Emeritus at Harvard University, former chief economist of the World Bank, adviser to two US Presidents and a co-convener of the independent expert group on reforming the multilateral development banks under India’s G20 presidency, spoke to HT on Monday over a broad range of issues. Summers believes that Indian economy could become six times its current size by 2047; that the advanced world and multilateral system needs to do much more to address the concerns of poor countries and mitigating the climate crisis; and that India has an important role in aligning the world towards what needs to be done. Edited excerpts:

Lawrence H Summers (RAJ K RAJ /HT PHOTO)