Make in India: An uphill task

Summary

"Make in India" is Modi government's flagship project initiated in 2014 to boost manufacturing. The project aims to increase manufacturing's share in the economy from 15% in 2014 to 25% by 2022 and create 100 million jobs. Unfortunately, it is not working as planned. The share has remained stagnant at roughly 15% in the last four years. The employment is growing, but at a far less pace and mostly in low-quality jobs. In the aftermath of the demonetization, the growth rate of manufacturing has halved between 2016 and 2017.

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