Can IP-Led Innovation Help India Hurdle the Middle-Income Trap?

As the world’s fastest-growing major economy, India will soon move closer to its next milestone—the upper-middle-income level.1 At the middle-income point, rapidly growing countries must undertake structural, economic and policy changes to effectively transition from a low-income, low-wage to a high-income, high-innovation state—thereby successfully avoiding the loss of economic momentum or stagnation.2 World Bank economists Indermit Gill and Homi Kharas (2016), …