FIRING INDIA INC'S AMBITION
India Today|August 26, 2024
India has the potential to become a global giant in manufacturing. For that, our industry must take bold steps forward and the government a step back.
Naushad Forbes
FIRING INDIA INC'S AMBITION

This special issue of INDIA TODAY asks: How can India become a global giant? That eventual outcome is not in doubt. If we keep growing at the 6.5 per cent we have averaged for the past 30 years, we will soon be one of the three largest economies in the world.

We will go on to be a huge economy by 2047, by dint of having the world's largest population. But we will not yet be rich-as an upper-middle income country, we will be well below today's developed world. To do better, we must place manufacturing and the ambition of Indian firms at the heart of development.

First, a word about policy: this is not an article arguing that the government must do a list of things. The state's role, in my view, is to limit itself to only those things that only it can do. In manufacturing, the state should primarily adopt a hands-off approach-don't choose technologies, don't select firms, don't promote particular industries, and don't incentivise particular sectors.

That is, enable all of Indian industry; don't attempt to pick winners. Our industrial policy should seek a future that looks like Germany, with thousands of specialised world leaders, rather than China or South Korea, each with a few dozen giant state-sponsored champions.

But if I ask less of the state to make us a great power more quickly, I ask much more of Indian industry. As I have argued at length in my book, The Struggle and the Promise: Restoring India's Potential, Indian industry must strive to be more of these four I's: inclusive, international, innovative and independent.

Esta historia es de la edición August 26, 2024 de India Today.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición August 26, 2024 de India Today.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE INDIA TODAYVer todo
High & Mighty
India Today

High & Mighty

High And Mighty.

time-read
10 minutos  |
November 11, 2024 - Special Issue
ELECTRIC MAJESTY
India Today

ELECTRIC MAJESTY

THE EQS SUV SETS A NEW STANDARD FOR A LUXURY FAMILY VEHICLE

time-read
2 minutos  |
November 11, 2024 - Special Issue
SMALL IS IN
India Today

SMALL IS IN

IT'S SMALL WONDER that when it comes to size, there are such distinct preferences, particularly when it comes to watches.

time-read
1 min  |
November 11, 2024 - Special Issue
WHAT'S COOKING?
India Today

WHAT'S COOKING?

The new culinary hotspots of gourmet Michelin dining in Hong Kong

time-read
3 minutos  |
November 11, 2024 - Special Issue
NEED OF THE HOUR
India Today

NEED OF THE HOUR

Is the tenth time the charm for Apple’s iconic wearable? Let’s clock in.

time-read
1 min  |
November 11, 2024 - Special Issue
A Symphony Smoke of and Style
India Today

A Symphony Smoke of and Style

Pairing some of the most feted peated whiskies from India and around the world.

time-read
5 minutos  |
November 11, 2024 - Special Issue
THE TOP SHELF INDIAN SPIRITS
India Today

THE TOP SHELF INDIAN SPIRITS

Toasting some of the finest sips from around the country

time-read
4 minutos  |
November 11, 2024 - Special Issue
THAI HIGH
India Today

THAI HIGH

What's it like to stay in the best hotel in the world? Spice spends a decadent weekend at Capella Bangkok, awarded the best hotel in the world by The World's 50 Best Hotels 2024.

time-read
3 minutos  |
November 11, 2024 - Special Issue
OUR FAVORITE F WORDS
India Today

OUR FAVORITE F WORDS

Why fashion and food are frolicking together in an epic romance.

time-read
5 minutos  |
November 11, 2024 - Special Issue
Past Perfect
India Today

Past Perfect

Whether it is to create cultural touchstones, a springboard for creativity, or save the planet, many chefs are revisiting traditional cooking techniques and sustainable practices.

time-read
4 minutos  |
November 11, 2024 - Special Issue