Posted 1/6/2024, 7:07:00 PM
India's Manufacturing Growth Lags Behind Competitors; Voters Must Weigh Freebies vs Development
- India not attracting enough manufacturing through China Plus One strategy compared to Mexico, Vietnam
- Investors want policy clarity and stability over subsidies when setting up long-term factories
- India should focus on its competitive advantages instead of blindly chasing low-cost manufacturing
- Services exports like IT and medical consultancy are growth areas for India
- Freebies and uncontrolled spending may impact social spending; voters must decide