India Cannot Afford to Ignore Manufacturing

Economic Policy
Written By Shrikrishna Upadhyaya

Published April 16, 2024

This book review article, based on Raghuram Rajan and Rohit Lamba's “Breaking the Mould: Reimagining India’s Economic Future,” was originally published in the Indian Public Policy Review: A Journal of Economics, Politics, and Strategy. Click here to read the full document.

Abstract

Raghuram Rajan and Rohit Lamba are clear that “Acche Din” are not here yet and the direction the NDA government is taking will not get India to the promised land soon. They recommend a strong push for services as against manufacturing, increased spending on education and healthcare, and devolution of power to local governments. They question the logic behind large subsidies to promote manufacturing when the jobs created in this manner are so few. 

Author

Featured
Sridhar Krishna
Sridhar Krishna

Sridhar Krishna is a Senior Scholar at the Takshashila Institution where he led the 20 million jobs project before joining the group researching on AI Governance. He graduated from BITS, Pilani and has an MBA from SP Jain, Mumbai. He also works with ambitious young IT firms helping them scale and with a civil society organisation on judicial reform. Till recently, he was a Managing Director at Accenture where he worked on analytics and AI.

Shrikrishna Upadhyaya
Previous

A Case for Quad Cooperation in Biofuels
Next

Financial Flows of the Blue Continent - A Case Study of Potential Pacific-India-Australia Collaboration