While it’s a good idea to move up the value chain in manufacturing through the Make in India initiative, the country also needs to focus on its strength in services, World Bank president Jim Yong Kim said in an interview on the sidelines of the Vibrant Gujarat summit. India, he said, is one of the bright spots in the world economy along with the US.
The new government announced Make in India initiative to boost manufacturing in the country. Does it make sense to steer the focus away from services to manufacturing especially as export-led growth would be difficult?
Trying to move India up the value chain in manufacturing, to make it clear that India should be thought of as a great destination for manufacturing to investors from other countries - I think that’s a good message to send. But I think it’s also the right thing to do to continue to work on your strengths. The service industry has just exploded. I have shared....
