India Seeks to Boost Manufacturing and Diversify Exports to Create Jobs and Sustain Growth
-
India has seen success in service sector but needs manufacturing and goods exports to create more jobs for its large population
-
India's economic complexity and export diversification has stagnated over last 2 decades compared to China and Vietnam
-
India underperforms in global goods exports compared to size of economy across industries like textiles, machinery, and electronics
-
Investments in infrastructure, transportation and logistics critical to boost India's goods exports and manufacturing potential
-
Growth in refined petroleum exports may not be sustainable long-term if India loses access to cheap oil from sanctioned countries