However, the Modi government’s industrial policy is not enough to match China
©SIPA
Chronicles of the Mahabharata,
Charlie Salkazanov
That was Narendra Modi’s promise to the Indian industrial giant on September 25 2014. The Prime Minister wanted to make India an industrial center and act as an alternative to China. Despite the obstacles, this interesting project received a lot of attention from the business world. Automakers Mahidra, Bajaj (two-wheelers and three-wheelers) and the Ambani brothers (who run Reliance Industries Limited, which specializes in petrochemicals) support this approach.
“India is still far behind Beijing in terms of attracting foreign investors. According to the UN, the country received 45 billion euros in 2022 when China received 173 billion euros.”
At that time, many companies left India due to the burden of bureaucracy and taxes. India’s potential is enormous. However, until now, this has not been exploited by the industrial sector. Despite proactive policies, foreign investment flows are not very large compared to the size of the Indian economy. And India is still far behind Beijing […]
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