[Extract] Everyone wants a piece of India in recent times. No surprises there! The Indian economy has gone from strength to strength. Indian Prime Minister Narendra Modi is pursuing an ambitious agenda for promoting manufacturing in India as the cornerstone for his long-term economic strategy. This plan is dubbed ‘Make in India’ and it aims to attract investment into the Indian manufacturing sector. This is essentially a replication of the export-led growth model that was pursued by various East Asian economies in the 1960s and 1970s. China is a current example of economic growth pursued through export-led strategy. The complication, however, stems from India’s membership of the World Trade Organisation (WTO), and the following question: how will India expand its manufacturing base while remaining within the WTO framework?
|Publication status||Published - 14 Jun 2016|