Three policy interventions could add billions of dollars to GDP: McKinsey

They could help key manufacturing value chains more than double their GDP contribution to $500 billion over the next seven years, says Oct 30 note

Three policy interventions could potentially add hundreds of billions of dollars to the manufacturing segment’s contribution to the economy, according to consultants McKinsey & Company.

They could help key manufacturing value chains more than double their gross domestic product (GDP) contribution to $500 billion over the next seven years, according to an October 30 note authored by senior partner Rajat Dhawan and partner Suvojoy Sengupta. Raising productivity, securing know-how and technology, and better access to capital could accelerate the growth of key parts of India’s manufacturing, it said.

This would involve manufacturers capitalising on growth in domestic sales and exports,