India’s Change of Guard
Although India is one of the youngest countries in the world, with an average age of just 26 years, until recently aging stalwarts incongruously dominated most fields, ranging from politics to the arts and even business and sports. But now younger entrants are rising everywhere, bringing with them energy and new ideas.
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SINGAPORE – In August, Raghuram Rajan was appointed Governor of the Reserve Bank of India. On one level, this was a routine announcement that many had anticipated – after all, Rajan is arguably the best-known Indian economist of his generation. On another level, however, his appointment can be seen as part of a broader generational shift. Rajan, just 50, will be the first RBI governor born after India became a republic in 1950.