Today my guests are Arvind Subramanian and Devesh Kapur. Arvind is a Senior Fellow at the Peterson Institute for International Economics and a former Chief Economic Advisor to the Government of India. Devesh is the Starr Foundation Professor of South Asian Studies and Director of the Asia Programs at the Johns Hopkins. They are co-authors of the recent book, A Sixth of Humanity: Independent India's Development Odyssey.

We talked about India's redistributive democracy, why Indian states have taken such different development paths, India's socialism and consequent scarcity, manufacturing challenges, and much more.

Recorded February 13th, 2026.

Read a full transcript enhanced with helpful links.

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Timestamps

(00:00:00) - Intro
(00:01:18) - A Sixth of Humanity
(00:06:51) - The Effect of Education on State Development
(00:13:39) - Redistributive Democracy in India
(00:21:54) - One Democracy, Multiple Outcomes at the State Level
(00:36:52) - Tamil Nadu
(00:38:01) - The Collapse of Punjab
(00:42:12) - Shades of Socialism in India
(01:08:00) - Upside-Down State
(01:26:36) - Manufacturing
(01:46:23) - Outro