Is ‘Make in India’ beginning to bear fruit?
Manufacturing seems to be picking up in India but there are reasons to be cautious
Three years after the Narendra Modi government took charge in Delhi, one of its key programmes, the ‘Make in India’ initiative, may be finally bearing fruit. Three different sets of macro-economic data—the number (and value) of industrial projects being set up in the country, foreign direct investment (FDI) and merchandise exports—seem to point to a pick-up in industrial activity in Asia’s third-largest economy.
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