Top economists laud Modi's 'practical approach' in scripting Gujarat model
The first day of the 2017 Annual Meetings of the African Development Bank witnessed the unveiling of the book titled 'Beating the odds: Jump Starting Developing Countries' co-authored by Professor Justin Yifu Lin, former Chief Economist at the World Bank, and Mr Célestin Monga, Chief Economist at the African Development Bank.
Professor Lin and Monga have covered strategies in the book that can help underdeveloped and developing countries ignite economic growth, and leap directly into the global economy by building industrial parks and export-processing zones linked to global markets.
Praising Prime Minister Narendra Modi for his practical approach in building the acclaimed Gujarat model, Lyn said that as the Chief Minister of Gujarat Narendra Modi adopted a pragmatic strategy with respect to developing infrastructure, initiating resource mobilization and promoting industrialization.
Modi was successful in achieving 10 per cent growth rate for the state consecutively for 14 years, he remarked.
Lyn said that Africa could emulate the same approach and achieve growth for the continent. The co-author of the book Célestin Monga emphasized that the book would contribute to the history of Africa's development. He also added that Africa has huge potential for growth.
Africa has a huge potential for growth and it can achieve a growth rate of 10 percent per annum. Therefore, we need to formulate ideas for growth in the region, he said.