New Delhi, May 6 -- Bollywood movies provide mass entertainment. They may even carry a social message. Rarely do they touch on macroeconomic issues. But looking at them through an economic lens gives surprisingly accurate insights about India's development journey.

Consider three movies made and released roughly a decade apart: Dil Chahta Hai (2001), Zindagi Na Milegi Dobara (ZNMD, 2011) and Kho Gaye Hum Kahan (KGHK, 2023). They have much in common. Each is a coming-of-age story. The plots are simple: three friends, all in their twenties, navigate career choices, relationships and life goals on the way to adulthood. The main characters are urban, educated, and upper-middle class or richer. They represent a tiny fraction of India, with th...