‘Make in India’ is a tariff-war sticker job
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‘Make in India’ is a tariff-war sticker job
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About this listen
One of the first reactions to Donald Trump’s tariffs in the Indian media was: let’s have more of “Make in India”.
On the surface, the rationale for stepping up domestic manufacturing is clear. The US is inflicting pain on China, and that’s supposed to work to India’s advantage, given the wide gulf in tariffs on the two Asia giants.
But “Make in India” has been around for more than a decade, and manufacturing is no more important to the Indian economy now than it was before Narendra Modi took office in 2014. Even the introduction of production-linked incentives in 2020 hasn’t helped.
India is nowhere close to its target of manufacturing accounting for 25% of its economic output by the end of 2025.
And let’s face it: Chinese manufacturers are true survivors.
They survived Trump’s first presidential term—and now thrive.So, what’s really in store for India?
Seetharaman G explains in this week’s edition of Make India Competitive Again. Check it out.
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