Government attempts to micro-manage the economy are always vulnerable to capture by special interests, and may well turn counter-productive. This is especially true when there is no consistency in policy across time — which is sadly not uncommon in India.
Consider the efforts made of late to indigenise the production of electronic items that are commonly imported — particularly mobile phones. The phased manufacturing programme (PMP) of the government wanted to force mobile phone companies to start local manufacturing of components any time in the coming financial year of 2019-20. ...
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