Not your grandfather's manufacturing

While announcing its policies, the government needs to keep in mind that global manufacturing is also changing

The government is trying one more time to super-charge India’s manufacturing story. It is a goal that multiple prime ministers have tried with limited success in the past. In Prime Minister Narendra Modi’s second term in office, and perhaps spurred by the economic problems that have been accelerated by Covid-19, his administration has made a flurry of policy announcements. These include higher tariffs to protect manufacturers in India; licences and quotas for some imports; some tinkering with labour laws; and finally the announcement of production-linked incentives on a range of sectors. And last year itself, it had taken the decision