India's Urban Awakening
India is urbanizing at a scale and pace that it has never before experienced. In the last 40 years, the country has added 230 million people to its cities, but the next 250 million will be added in half that time.
India's urban expansion could be the key to its continuing economic success. If India handles its urbanization well, it could boost annual GDP growth by 1 to 1.5 percentage points, bringing the economy near to the double-digit growth to which the country aspires. Managed poorly, India's cities will fall further into decay and gridlock and GDP growth could be in jeopardy, risking high unemployment.
The McKinsey Global Institute (MGI), McKinsey's business and economics research arm, and McKinsey's India office conducted a 21'month long study to understand how India's urbanization might evolve, explore what was holding back Indian cities and what policy changes could mitigate the strains of urban life, and assess the consequent business opportunities that could emerge. The research offers a new urban operating model for India based on a set of elements common to successful cities around the world. Please join Shirish Sankhe, Director of McKinsey's Mumbai office, for a conversation moderated by Mitra Kalita, Deputy Bureau Chief of The Wall Street Journal's Economic Bureau.
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