The Make in India bubble5 min read 25 Sep 2014, 12:53 PM IST
Narendra Modi's state-led development model inspired by the East Asian miracle will fail
An economic plan to dedicate each man’s labour in a day equally between agriculture, services, and manufacturing to achieve “balanced" growth would be ridiculed by all but the most naive. Thankfully, that specialization and trade benefit the world through greater economic productivity is accepted without debate by even the most illiterate. But when some say the size of the manufacturing sector in India is too small to achieve “balanced" growth, the urgent need to revive the sector is bandied about.
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