CNBC's Inside India newsletter: Will India's lofty manufacturing ambitions bear fruit?
Publishing timestamp: 2024-09-19 15:55:40
Summary
India is shifting focus from being a tech hub to becoming a manufacturing powerhouse through initiatives like "Make in India." The country has seen growth in sectors like electronics, pharmaceuticals, and automotive manufacturing, attracting foreign investments. However, challenges remain in increasing the share of manufacturing in India's GDP and creating higher-skilled jobs. Despite competition from other countries, India's lower labor costs and large domestic market provide opportunities for growth.
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