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illuminem summarizes for you the essential news of the day. Read the full piece on The Economist or enjoy below:
🗞️ Driving the news: Recent data indicates that extreme poverty in India has declined to negligible levels, challenging traditional beliefs about economic development
🔭 The context: Historically, economic theories posited that industrialization was essential for poverty reduction
• However, India's significant poverty alleviation has occurred without a corresponding industrial boom, suggesting alternative pathways to development
🌍 Why it matters for the planet: India's experience offers a new model for poverty reduction that doesn't rely solely on industrialization, potentially informing sustainable development strategies worldwide
⏭️ What's next: Policymakers may explore replicating India's multifaceted approach to poverty alleviation in other developing nations, focusing on sectors beyond traditional manufacturing
💬 One quote: "India has, therefore, all but eliminated the most extreme forms of poverty"
📈 One stat: Between 2011 and 2019, India's extreme poverty rate declined from 22.5% to 10.2%
See sustainability performance of companies like Tata Steel and Adani Group
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