Reserve Bank of India cautions against pitfalls of 'Make in India'
The Dollar Business Bureau Subsidising inputs to labour-intensive industries has not really paid off for India over the years, says Dr. Rajan It would be a mistake to think that the world needs another export-driven China, Dr. Raghuram Rajan, Governor, Reserve Bank of India (RBI), said this week while cautioning against various strategies usually associated with the “Make in India” campaign. Prime Minister Narendra Modi first launched the “Make in India” campaign on August 15, 2014, and had emphasised on the need to boost manufacturing and reduce imports. However, criticism of the initiative has gained pace in recent weeks along with a slowdown in manufacturing and exports, and the lack of a clear policy. However, the RBI chief’s speech on ...
