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Domestic champions, global laggards: The road to global manufacturing power

The only way to be a globally competitive manufacturing power is to ensure that the domestic market is aligned to the cost and quality demanded by global markets

make in india, manufacturing, electronics industry
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Goyal observed that India’s 1.4-billion-strong domestic market has become a cosy comfort zone, providing good profits to Indian businesses | Representative Picture

Prosenjit Datta

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Though the Trump tariffs represent unilateral action by the United States and do not adhere to the global trade principles of the World Trade Organization, they have also spurred major soul-searching in India about what the country can do to become more globally competitive.
 
Industrial associations, corporate leaders, and senior economists have all called for major next-generation reforms in areas including land acquisition, power costs, taxes, compliance red tape, and labour laws — all of which would lead to a substantial improvement in the ease of doing business, while also enhancing the basic competitiveness of Indian companies.
 
Meanwhile, policymakers have
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