India thrives in high tech sectors that are ironically export controlled by the rest of the world. That’s the primary reason the talent in those domains stays back.
As for the rest of India, you can largely find the root causes of problems by tracing adverse selection effects among the elites that do remain, massive, conflicting vested interests and decades of horrible, incompetent policymaking.
As for the rest of India, you can largely find the root causes of problems by tracing adverse selection effects among the elites that do remain, massive, conflicting vested interests and decades of horrible, incompetent policymaking.