India Cannot Afford to Ignore Manufacturing

Review article based on “Breaking the Mould: Reimagining India’s Economic Future” by Raghuram Rajan and Rohit Lamba




Raghuram Rajan and Rohit Lamba are clear that “Acche Din” are not here yet and the direction the NDA government is taking will not get India to the promised land soon. They recommend a strong push for services as against manufacturing, increased spending on education and healthcare, and devolution of power to local governments. They question the logic behind large subsidies to promote manufacturing when the jobs created in this manner are so few. 


Economic growth, make in India, services, nationalism, federalism, Industrial Policy


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Author Bio

Sridhar Krishna, Takshashila Institution

Sridhar Krishna is a Senior Scholar at the Takshashila Institution. Previously, he was a Managing Director at Accenture’s AI practice.


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