Is FDI the new engine of growth?
FDI from private equity funds has largely financed e-commerce firms, driving import-led consumption boom
The official discussion paper (DP), Industrial Policy—2017, (goo.gl/jEPs6u) is a welcome effort. That said, while it sets down a laundry list of known constraints, it ignores serious analyses of poor industrial performance. Pedantically discussing competitiveness, the policy paper makes very little reference to trends in global trade, or inadequate domestic industrial demand, falling capacity utilization or negative credit growth (“Economic Reforms And Manufacturing Sector" by R. Nagaraj, Economic And Political Weekly, 14 January 2017).
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