A stimulating and thought-provoking roundtable seminar and debate on the challenges facing India in a globalized world. Has India "emerged"? Is it "emerging"? Do rampant income inequality and corruption necessarily follow rapid economic growth in a capitalist, market economy? Will India's rapid growth trajectory be sustainable without next generation economic reforms? Will persistent poverty and high income inequality pose a danger to the Indian polity and to development itself? Is democracy a help or hindrance to economic development in India, and how does India's experience compare with China and the other BRICs? These are amongst the questions that the panel addresses. Vivek Dehejia moderated. The panelists were Nitin Pai, founder of Takshashila Institution, Chennai, India; Paranjoy Guha Thakurta, senior journalist and documentary filmmaker; and Ashutosh Varshney, political science professor, Brown University, USA and noted India commentator. The seminar was taped at the India International Centre, New Delhi, India, 20th January, 2011.