Author: Aasheerwad Dwivedi, Delhi University Historical experience presents ‘structural transformation’ as a necessary condition for achieving high economic growth in any country. The typical transformation path involves people moving from agriculture towards industries and then services, from low to high productivity sectors, and from villages to cities. To the sorrow of millions, India missed the bus in the 1960s and — unlike its Eastern neighbours such as China — followed its own atypical path. India’s latest attempt to move up the value chain is the ‘Make in India’ initiative introduced in 2014, which emphasises creating world-class infrastructure, minimising red tape,…
Source link : ‘Make in India’ a work in progress by East Asia Forum
