Book Review – Breaking the Mould
I recently completed the thought-provoking book "Breaking the Mould" written by celebrated economists Dr. Raghuram Rajan and Dr. Rohit Lamba. In this comprehensive work, the authors delve into the critical issues facing the Indian economy and present a commendable analysis of the enablers required to propel it to greater heights.
I would assign a rating of 8/10 to the book, and my rationale is as follows:
Informed Insights
Leveraging their background in economics, the authors provide concise and precise explanations supported by active research. They shed light on diverse aspects such as the PLI scheme, low-end manufacturing, and the scalability of service exports. A notable highlight is their suggestion that funds allocated to PLI schemes could be redirected to cover other critical areas, such as education.
Holistic Development Enablers
The book effectively discusses the various enablers crucial for India's development, including education, health, labor force, and women's participation. The authors back their insights with relevant data, drawing parallels between the development of a country and the success of businesses.
Language Flow and Repetition
The book's fluidity suffers at times, particularly towards the conclusion, where the repetition of messages can make the reading experience slightly tedious.
Political Tone
Dr. Rajan's discernible bias against the present BJP government is evident in the narrative, impacting certain discussion points. While the criticisms are supported by logical arguments, they reveal a certain resentment towards the BJP leadership.
Format Concerns
The Questions and Answers format employed towards the end may prove less engaging for educated readers, contributing to a somewhat monotonous reading experience.
Digital Infrastructure Insights
The authors missed an opportunity to delve into how India's existing digital infrastructure could be harnessed to benefit SMEs, MSMEs, and startups. Building on the success of the UPI payments module, the book could have offered insights into leveraging India's digital strengths for business interests.
Global Economic Perspectives
Considering Dr. Rajan's global economic standing, the book could have explored strategic positions for India in trade, including WTO negotiations, agriculture subsidies, energy transition, and climate change.
In conclusion, "Breaking the Mould" is recommended for business professionals, government bureaucrats, economists, B-school students, and anyone invested in India's development. Despite some language and formatting issues, the book provides valuable insights into the economic challenges and opportunities facing the nation.
Thanks Ashish