"Jagdish Bhagwati and Arvind Panagariya are two of the great intellectual lights behind one of the greatest miracles of economic history: the economic reform of India, and its subsequent takeoff. It is not just the well-to-do who have benefited, but, especially, the poor. The lessons from the spirit of 1991 are not just relevant for India today; they are also of prime importance for the billions of citizens of low income countries around the globe."
--George A. Akerlof, Nobel Laureate in Economics, 2001

"In this important book the two leading experts on India's economy refute the claims of those who reject pro-growth policies in favor of redistribution schemes. India's experience in the past two decades shows how a nation's economic growth reduces poverty and improves the well-being of disadvantaged groups. Bhagwati and Panagariya explain what India needs to do now and how other countries can learn from India's experience."
--Martin Feldstein, George F. Baker Professor of Economics at Harvard University and President Emeritus of the National Bureau of Economic Research

"Assembling reams of evidence from India's astonishing economic success story, Bhagwati & Panagariya make an unbeatable case for why market reforms are essential to economic growth—and improving the lives of the poor. Serious reformers throughout the developing world cannot ignore this book or Bhagwati's work throughout the years."
--Hernando de Soto, President of the Institute for Liberty and Democracy and author of The Mystery of Capital

"Every important developing country should be the subject of a masterful book like this. Bhagwati and Panagariya have paid a great service to India—and actually other emerging countries—by writing it. If it's a must read for scholars and practitioners of economic development, it should be absolutely mandatory for the Indian political leaders."
--Ernesto Zedillo, Director of the Yale Center for the Study of Globalization and former President of Mexico

Jagdish Bhagwati is university professor of economics at Columbia and senior fellow for international economics at the Council on Foreign Relations. A native of India, Professor Bhagwati studied at Cambridge University, MIT, and Oxford before returning to India in 1961 as professor of economics at the Indian Statistical Institute. He is the author of many books, among them In Defense of Globalization.

Arvind Panagariya is professor of Indian economics at Columbia. He is a nonresident senior fellow at the Brookings Institution. He has been the chief economist of the Asian Development Bank and a professor of economics and codirector, Center for International Economics, University of Maryland at College Park. He is the author of, among other books, India: The Emerging Giant.